France GDP growth contribution: general government GFCF
France GDP growth contribution: general government GFCF stood at -0.05 Percentage points in Q2 2026, according to INSEE – Institut national de la statistique et des études économiques (BDM). It is one of the indicators in the Quarterly GDP and value added table (Value · Quarterly), with a complete series running from Q2 1950 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Quarterly GDP and value added table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Contributions to GDP growth | |||||||||||
| GFCF of general government entities | -0.05 | -0.06 | 0.02 | 0.02 | 0.06 | 0.04 | -0.02 | 0.01 | 0.11 | 0.07 | |
| GFCF of households | -0.02 | -0.07 | 0.03 | 0.02 | 0 | 0.03 | 0.03 | -0.06 | -0.13 | -0.17 |
Understanding france GDP growth contribution: general government GFCF
Capital expenditures undertaken specifically by public administrative bodies and government agencies are translated here into their percentage point contribution to national output growth. This series tracks public infrastructure projects, school and hospital construction, transport networks, and public machinery acquisitions, isolating them from private sector corporate investment and household housing outlays. The figures quantify the exact growth impetus delivered by public capital spending, helping analysts evaluate fiscal policy transmission through public works.
Interpreting public investment contributions requires recognizing that large infrastructure projects are inherently lumpy, leading to sharp quarterly swings driven by project completion milestones rather than smooth economic trends. Public capital outlays are also subject to political electoral cycles and budgetary adjustments, which can cause investment patterns to diverge sharply from private business cycles. Analysts should avoid treating single-quarter spikes in public investment contributions as permanent structural expansions in state-led productive capacity.
Frequently asked questions
- What types of projects make up general government GFCF?
- Roads, public transport networks, school buildings, hospitals, and defense infrastructure are primary examples.
- Why can public investment contributions be volatile across quarters?
- Large infrastructure projects involve lumpy milestone payments and construction schedules that create irregular quarterly patterns.
- How does this series differ from general government consumption expenditures?
- Consumption covers day-to-day operational running costs, while GFCF measures long-lived capital assets that provide services over many years.