ReturnPARIS, Nov. 27 (Xinhua) -- The gross domestic product (GDP) of France bounced by 18.7 percent in third quarter against a 13.8-percent contraction in the second quarter this year, national statistics institute INSEE said on Friday, adding however that the GDP figure still remained well below the level it had before the health crisis.
The quarterly figure was revised up from the previous estimate of 18.3 percent, "mostly due to the integration of new data for September, especially for household consumption and investment in services," said INSEE.
In the third quarter, household gross disposable income and non-financial corporations' profits recovered with the rebound of economic activity after the anti-coronavirus lockdown from mid-March to mid-May, it added.
INSEE data showed that over the period, consumer spending jumped by 17.9 percent compared to an 11.7-percent decline a quarter earlier. Total domestic demand (excluding inventory changes) remained dynamic and contributed by 19.5 percentage points to the GDP growth.
Foreign trade contributed to GDP growth by 0.7 points, after -2.3 percent in Q2. Exports rose by 22.1 percent after a decline of 25.1 percent in the second quarter while imports went up by 16.8 percent, after a contraction of 16.8 percent in previous quarter.
Nevertheless, INSEE noted that compared with its level in the third quarter last year, the country's GDP from July to September 2020 was 3.9 percent lower. Enditem
