The French economy grew by 0.3% in the second quarter.

The final data released by the French National Institute of Statistics on Friday showed that the French economy grew slightly in the second quarter, in line with the preliminary estimate of 0.3% and consistent with expectations from institutions, indicating a strengthening momentum for the second largest economy in the Eurozone. The French National Institute of Statistics said that exports rebounded modestly to +0.5% after a decline of -1.2% in the previous quarter, driven by strong growth in pharmaceutical exports. As a traditional driver of French economic growth, household consumption rebounded slightly from -0.3% in the previous quarter to 0.0%, as increased spending on food and services offset the sharp decline in energy expenditure.