Paris: Data from the French National Institute of Statistics and Economic Studies (INSEE) today showed that France's GDP rose by 0.3 percent in the second quarter of this year, compared with 0.1 percent in the first quarter.

According to Qatar News Agency, the institute reported that the household savings rate climbed again, reaching 18.9 percent of income, while household consumption remained stable after a decline of -0.3 percent in the first quarter. Investment continued to contract, down -0.1 percent after a similar decline in the first quarter.

INSEE data also showed that domestic demand (excluding inventories) contributed only slightly to GDP growth between April and June (+0.1 point after -0.1 point in Q1). Despite a modest increase in exports (+0.5 percent after -1.2 percent) and an acceleration in imports (+1.3 percent after +0.4 percent), the contribution of foreign trade to GDP growth remained negative in the second quarter (-0.3 percent after -0.5 percent).

Growth recorded in Q2 largely resulted from changes in inventories, which contributed 0.5 points after 0.7 points in the first quarter. According to the institute, the inventory buildup may reflect either manufacturing in anticipation of higher demand or the fact that produced goods have not been sold yet.