PARIS, Oct. 30 (Xinhua) -- France's real gross domestic product (GDP) is expected to grow moderately by 0.4 percent in the third quarter (Q3) of 2024, following a 0.2 percent increase in the previous quarter, the French National Institute of Statistics and Economic Studies (INSEE) announced on Wednesday in its provisional quarterly report.
According to INSEE, total production in France, encompassing goods and services, should see a slight acceleration in Q3, supported by the summer's Olympic and Paralympic Games held in Paris.
Household consumption is also projected to have a positive impact on Q3 GDP growth, anticipated to rise by 0.5 percent after stagnating in the second quarter.
"A significant portion of this increase, about half, is driven by spending on recreational services linked to the Paris Olympic and Paralympic Games," INSEE noted.
The institute added that the contribution of foreign trade to GDP growth should remain slightly positive in Q3. While France's overall exports are projected to decrease by 0.5 percent, exports of services, particularly in information and communication, are expected to benefit from the broadcasting rights and transportation services associated with the Olympic and Paralympic Games.
In September, France's central bank Banque de France estimated that real GDP growth would reach 1.1 percent for 2024 and 1.2 percent for 2025. ■
