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France posts fifth straight quarterly growth in Q3

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France reported a fifth straight quarterly growth in the third quarter, INSEE data showed on Tuesday, ahead of euro area GDP figures due later in the day.

The French economy expanded 0.5 percent in the quarter through September from an upwardly revised growth of 0.6 percent in the previous three months.

On the yearly basis, the eurozone’s second-biggest economy grew 2.2 percent, the strongest pace since 2011.

Consumer spending and business investment were the key drivers of growth over the quarter, said INSEE.

Data released yesterday showed that Spain expanded 0.8 percent on the quarter and 3.1 percent year-on-year.

Later in the day, the preliminary GDP for the euro area is predicted to witness a growth of 0.5 percent, following a 0.6 percent expansion in the second quarter.

As of 07:45 GMT, the euro traded near the session’s open versus the U.S. dollar at 1.1636, after showing slight recovery the previous session.

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