France's Economy Shows Resilient Growth at 0.5%

France's economy grew by 0.5% in the third quarter, matching expectations and showing resilience. Increased exports, especially in transport equipment, contributed greatly, despite a slight decline in food product spending. Household consumption remained steady, with energy and service expenditures rising.

In a confirmation of previous forecasts, France's economy grew by 0.5% in the third quarter, as reported by the statistics office INSEE. This demonstrates consistent growth in the euro zone's second-largest economy.

The uptick was mainly driven by a substantial 3.2% growth in exports, notably in transport equipment, marking a significant jump from the 0.3% growth in the previous quarter. This growth highlights the robust demand for French export goods.

Household consumption, traditionally the bedrock of French economic growth, remained unchanged at 0.1% from the preceding quarter. The steady consumption was supported by increased energy spending and a rise in service expenditures, which together offset a decline in spending on food products.

(With inputs from agencies.)