France's previously-stagnant economy picked up shapely in Q2, with Gross Domestic Product (GDP) expanding by 0.5 percent, far beyond expectations and at the fastest rate in over two years, official sources said Wednesday.
The National Statistics Agency (INSEE) said in a statement on France's "National Accounts" that the sharp rebound was largely due to the domestic situation and and internal consumption in France. Indeed, domestic consumption increases accounted for 0.3 percent of the 0.5 percent jump in activity in the three-month period.
INSEE said that the Q2 performance was the strongest since early 2011. The most optimistic observers had said the economy should grow 0.2 percent in the period under study and were surprised by the results published.