French GDP increases 0.5 pct in Q3 2017

By Hajer M'tiri

PARIS (AA) - French GDP growth increased by 0.5 percent in the three months to September 2017, a rate had not observed since 2011, according to forecasts released by the National Institute of Statistics and Economic Studies (INSEE) on Tuesday.

With 0.6 percent GDP rise in the second quarter and 0.5 percent rise in the first quarter of 2017, the eurozone’s second-largest economy has grown for the fifth quarter in a row.

"In comparison with Q3 2016, GDP rose by 2.2 percent; such a growth rate has not been observed since 2011," INSEE said in a statement.

According to the organization, business investment would see a 3.9 increase this year, from 3.4 percent in 2016 and households would increase their investments by 5 percent, the highest rate since 2006.

Meanwhile, according to Eurostat estimations also released on Tuesday, EU third-quarter GDP grew by 0.6 percent compared to the previous quarter.

This year, EU28 GDP rose by 2.1 percent in the first quarter and 2.4 percent in the second quarter, while it grew by 1.9 percent last year.

Eurozone unemployment declined to 8.9 percent in September, its lowest level since January 2009.