Household consumption picks up (Il Sole 24 Ore Radiocor) - Paris, 30 Aug - In the second quarter, French GDP, in volume terms, increased by 0.2% compared with the first quarter, when it rose 0.3%, according to the statistics office Insee.

The purchasing power of household gross disposable income (GDI) per consumption unit slowed down, growing 0.2% after rising 0.4% in the previous quarter.

Household consumption rose 0.1% after falling 0.1% in the previous quarter.

The household savings rate continued to rise. It stood at 17.9% of the GDI after 17.6% in the previous quarter.

The margin rate of non-financial companies (NFCs) fell in the second quarter to 30.8% from 31.7% in the previous quarter.

The gross fixed capital formation fell 0.4% after declining 0.5% in the previous month.

The general government borrowing requirement declined slightly by 0.1 points of GDP.

Government spending slowed down, rising 0.4% after growing 0.6% in the previous quarter. Overall, the contribution of final domestic demand excluding inventories to GDP growth was zero this quarter, as in the previous quarter.

Exports continued to increase moderately, up 0.4% in the second quarter against 0.6% in the previous three months.

Overall, the contribution of foreign trade to GDP growth was positive in the second quarter of 2024, reaching 0.1 percentage point.

The contribution of inventory changes to GDP growth was zero this quarter as in the previous quarter.

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(RADIOCOR) 30-08-24 09:18:45 (0182) 5 NNNN