France Q3 flash GDP +0.4% vs +0.5% q/q expected

Latest data released by INSEE - 30 October 2018

• Prior +0.2%
• Flash GDP +1.5% vs +1.5% y/y expected
• Prior +1.7%

The quarterly estimate missed a little but the yearly estimate comes in as expected. Shouldn't be too much of a bother for the euro in this case. Looking at the details, household spending came in at +0.5% q/q and that's an improvement relative to the -0.1% q/q reading seen in Q2.

In terms of real GDP though, Q3 recorded a +1.5% y/y growth and that's slower from the +1.7% y/y growth seen in Q2 so that the continued slowdown will be a cause of concern as we head into 2019.

Not much of a reaction in the euro as EUR/USD holds steady at 1.1374 currently while EUR/GBP sits in a narrow range on the day at 0.8887 still.