The crisis hits France. Lhe economy of the country on the other side of the Alps grew by only 0,3% in the third quarter of 2011, more than the 0,1% recorded in the previous semester but less than the expectations which estimated an increase of 0,4%. This was announced this morning by the National Institute of Statistics and Economic Studies (Insee).
Insee explained that the figure was revised downwards mainly due to a decrease in industrial production indicators. Consumption recovered slightly during the third quarter (+0,3% against -1% in the previous period).
It continued to growinvestment, albeit to a lesser extent than in the second quarter (+0,2% after +0,6%). Also there final domestic demand contributed positively to GDP growth: +0,2 points after -0,4 points in the April-June period.
Le cheap imports they recovered by registering +0,7% after having recorded -1% in the previous period and exports saw stable growth (+0,8% against 0,7%). Thus the contribution of the trade balance to growth was neutral, against half a percentage point in the second quarter.
