French Q4 GDP confirmed; 2015 revised up to 1.2%

[PARIS] The French economy grew 0.3 per cent in the final three months of 2015 from the previous quarter, the INSEE statistics agency said, confirming a previous estimate.

However, INSEE revised up its third quarter estimate to 0.4 per cent from 0.3 per cent previously. In turn for the whole of 2015, INSEE also revised up growth to 1.2 per cent from a previous estimate of 1.1 per cent.

In its third reading of fourth quarter gross domestic product data, INSEE said that the household savings rate also rose to 15.9 per cent from 15.5 per cent in the previous three months while households' disposable income rose 0.4 per cent over the period.

Meanwhile, non-financial corporations' profit margin as a per centage value added rose to 31.4 per cent in from 31.1 per cent, reaching the highest level since early 2011.

However, the improved profitability did not translate into a higher rate of investment, which was steady for the third quarter in a row at 23 per cent of value added.

REUTERS