In Q3 2016, gross domestic product (GDP) in volume terms recovered: +0.2%, after -0.1% in Q2.

Household consumption expenditure stagnated for the second quarter in a row, whereas gross fixed capital formation (GFCF) increased slightly (+0.3% after 0.0%). All in all, final domestic demand (excluding inventory changes) was virtually stable: it contributed to GDP growth for +0.1 points in Q3, as in the previous quarter.

Imports sharply bounced back (+2.2% after -1.7%). Exports accelerated to a lesser extent (+0.6% after +0.2%). All in all, foreign trade balance contributed negatively to GDP growth (-0.5 points after +0.6 points). Conversely, changes in inventories contributed positively (+0.6 points after -0.8 points).