France’s economic growth reached 0.2% in the second quarter, driven in particular by exports and household consumption which is rebounding slightly, INSEE indicated on Thursday July 30, publishing its first estimate for the period.
This increase in gross domestic product (GDP) between April and June, in a very uncertain international context, is lower than the forecast made by the French National Institute of Statistics (Insee). It previously expected growth of 0.3% after a decline of 0.1% in the first quarter. This growth of 0.2% is in line with the forecasts of the Banque de France.
Final domestic demand (excluding stocks) has started to rise again. It contributed to the evolution of GDP by +0.1 point after -0.2 point in the first quarter of 2026.
Slight increase in consumption
A traditional pillar of growth, household consumption increased slightly, by 0.2%, after a decline of 0.3% over the first three months of the year, driven by consumption of manufactured goods and services. On the other hand, households consumed less food products, and significantly less refined petroleum products and energy.
Public administration consumption also increased (+0.4% after +0.3%).
Total production (goods and services) recovered over the quarter, up 0.3% after being stable in the previous quarter. Production in the manufacturing industry slowed down significantly (+0.1% after +0.5%), but that of market services (excluding construction) accelerated (+0.6% after +0.1%).
Foreign trade contributed positively to growth (+0.6 points, after -0.8 points in the first quarter). Exports rebounded significantly, by 2.6% after a decline of 3.1% over the first three months of the year.
On the other hand, the contribution of inventory variations to the evolution of GDP was negative (-0.6 points after +0.9 points in the first quarter). Inventories represent goods produced but not yet sold at the end of a given period.
