Q3 Estimates Put France in Contraction While Germany Posts 0.2% Growth

France’s economy contracted 0.1% in the third quarter while Germany grew 0.2%, a split in the neighboring economies’ first estimates released Friday, Oct. 30.

Gross domestic product (GDP) measures the value of final goods and services produced within an economy over a period. France’s Q3 GDP fell 0.1% after remaining unchanged in Q2. Foreign trade subtracted 0.6 percentage point from Q3 growth as exports fell 1.7% and imports rose 0.1%. Household consumption increased 0.4%, public administration consumption rose 0.3%, and fixed investment declined 0.6%.

Germany’s GDP grew 0.2% from Q2 after adjustment for prices, seasonal and calendar effects. Output was 1.3% higher year over year in price-adjusted terms.

France’s projected public deficit for 2026 is 5.4% of GDP, revised from an initial 5.0% target. The deficit was 5.1% of GDP in 2025.

Both Q3 releases are preliminary. Germany’s detailed estimate is due Nov. 25, and France’s is due Nov. 27.