France outpaces UK with 0.5% growth in Q2 as exports surge – business live

All the day’s economic and financial news, including new growth reports from France and the US

Today’s growth figures should cheer France’s new leader, says Mehreen Khan of the FT.

She writes:

The official figures will be a boon for president Macron who has vowed to overhaul the French economy after years of lagging behind its major eurozone rival, Germany.

Unemployment in France is now at its lowest since the eurozone crisis, inflation has been tamed, and business surveys are revealing the best confidence levels in a decade.

French economic growth held steady at 0.5% as president Macron came to office https://t.co/lFkS98D29u pic.twitter.com/8xxLLpBGDq

Great GDP headline in France, but net exports will fall in Q3 and I doubt inventories will snap back in manufacturing to fully compensate.

France kicks off eurozone GDP season with 0.5% growth. In line with estimate and a fourth consecutive expansion. pic.twitter.com/ZYzShAMMOH

This chart shows how net trade boosted French growth in the last quarter.

Breaking: France’s economy grew by 0.5% in the second quarter of 2017.

That matches economists’ forecasts, and outpaces Britain’s 0.3% growth in the last three months.

#France #GDP Growth Rate QoQ 1st Est at 0.5% https://t.co/YZQGQpj2eo pic.twitter.com/tMHr1kvn0P

France Q2 prelim GDP 0.5% QoQ = 3 months stable, but 1.8% YoY = strongest since late 2011

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

We get two key piece of economic data this morning – new growth figures from France and America.

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