People walk past a poster in Paris, France, Feb. 1, 2023. France's gross domestic product (GDP) growth in the fourth quarter (Q4) of 2022 slowed to 0.1 percent, the country's National Institute of Statistics and Economic Studies (INSEE) said on Tuesday in its preliminary quarterly report. The INSEE noted that, despite a slowdown in Q4 2022, France's GDP growth should reach 2.6 percent in 2022. (Xinhua/Gao Jing)
PARIS, Jan. 31 (Xinhua) -- France's gross domestic product (GDP) growth in the fourth quarter (Q4) of 2022 slowed to 0.1 percent, the country's National Institute of Statistics and Economic Studies (INSEE) said on Tuesday in its preliminary quarterly report.
Final domestic demand (excluding inventories) contributed negatively to GDP growth in Q4 2022 due to a sharp decline in household consumption, the INSEE explained.
The total production, both goods and services, slowed down in Q4 2022 to 0.2 percent from 0.4 percent in Q3, especially due to the refinery strikes in October.
In Q4 2022, France's imports and exports both declined, by 1.9 percent and 0.3 percent, respectively, but since the drop in imports was much more marked, "foreign trade contributed positively to GDP growth this quarter (+0.5 points), after a negative contribution in the previous quarter," the INSEE noted.
As for the whole year of 2022, the INSEE noted that, despite a slowdown in Q4 2022, France's GDP growth should reach 2.6 percent in 2022.
According to the INSEE, this "was essentially the result of the rebound in activity in the second and third quarters of 2021, as the health crisis receded."
In September 2022, France's Economy and Finance Minister Bruno Le Maire said that economic growth in France in 2022 was expected to be around 2.7 percent.
He said that France "is not going into recession, France is having a good 2022." ■
La Defense business area is pictured in Paris, France, Feb. 1, 2023. France's gross domestic product (GDP) growth in the fourth quarter (Q4) of 2022 slowed to 0.1 percent, the country's National Institute of Statistics and Economic Studies (INSEE) said on Tuesday in its preliminary quarterly report. The INSEE noted that, despite a slowdown in Q4 2022, France's GDP growth should reach 2.6 percent in 2022. (Xinhua/Gao Jing)
People enjoy the view of the city of Paris, in France, Feb. 1, 2023. France's gross domestic product (GDP) growth in the fourth quarter (Q4) of 2022 slowed to 0.1 percent, the country's National Institute of Statistics and Economic Studies (INSEE) said on Tuesday in its preliminary quarterly report. The INSEE noted that, despite a slowdown in Q4 2022, France's GDP growth should reach 2.6 percent in 2022. (Xinhua/Gao Jing)
La Defense business area is pictured in Paris, France, Feb. 1, 2023. France's gross domestic product (GDP) growth in the fourth quarter (Q4) of 2022 slowed to 0.1 percent, the country's National Institute of Statistics and Economic Studies (INSEE) said on Tuesday in its preliminary quarterly report. The INSEE noted that, despite a slowdown in Q4 2022, France's GDP growth should reach 2.6 percent in 2022. (Xinhua/Gao Jing)
Customers spend time at a cafe in Paris, France, Feb. 1, 2023. France's gross domestic product (GDP) growth in the fourth quarter (Q4) of 2022 slowed to 0.1 percent, the country's National Institute of Statistics and Economic Studies (INSEE) said on Tuesday in its preliminary quarterly report. The INSEE noted that, despite a slowdown in Q4 2022, France's GDP growth should reach 2.6 percent in 2022. (Xinhua/Gao Jing)
Workers are seen near the Arc de Triomphe in Paris, France, Feb. 1, 2023. France's gross domestic product (GDP) growth in the fourth quarter (Q4) of 2022 slowed to 0.1 percent, the country's National Institute of Statistics and Economic Studies (INSEE) said on Tuesday in its preliminary quarterly report. The INSEE noted that, despite a slowdown in Q4 2022, France's GDP growth should reach 2.6 percent in 2022. (Xinhua/Gao Jing)
A tourist takes photos at the Trocadero place near the Eiffel Tower in Paris, France, Feb. 1, 2023. France's gross domestic product (GDP) growth in the fourth quarter (Q4) of 2022 slowed to 0.1 percent, the country's National Institute of Statistics and Economic Studies (INSEE) said on Tuesday in its preliminary quarterly report. The INSEE noted that, despite a slowdown in Q4 2022, France's GDP growth should reach 2.6 percent in 2022. (Xinhua/Gao Jing)