That's a slight beat on estimates as the French economy posts moderate growth in Q1. Looking at the breakdown:
- Domestic demand +0.6%
- Inventory changes -0.5%
- Net foreign trade +0.7%
The good news is that household consumption is seen accelerating slightly in the first quarter. That is seen up to +0.4% from +0.2% previously in Q4 last year. Services consumption was seen up 0.7%, roughly similar to the 0.8% reading in the last quarter.
