Paris: The French National Institute of Statistics and Economic Studies (INSEE) confirmed today that France's GDP increased by 0.5% in the third quarter of the current year.

According to Qatar News Agency, INSEE explained that the acceleration in GDP growth during this quarter was mainly driven by a 3.2% increase in exports, particularly transport equipment exports, which saw a 13.4% rise.

The statement added that household consumption continued to rise slightly, supported by a 1.3% increase in energy spending, which offset a 1% decline in spending on food products.

The institute warned that household purchasing power declined noticeably, dropping by 0.4% during the third quarter, due to slower social transfers, a slight increase in taxes, and higher consumer prices.