France Q3 preliminary GDP -0.1% vs +0.1% q/q expectedPrior 0.0%France Q3 preliminary GDP % vs +0.3% y/y expectedPrior +0.5%Ouch. That's a notable miss as French GDP shrinks in Q3 this year. That follows from the stagnation in Q2 and a 0.2% contraction in Q1, not exactly the sort of economic performance one would hope for from Europe's second-largest economy.Looking at the breakdown, household consumption actually improved in rising to 0.4% from 0.2% previously. However, investment remained a major weak spot in falling by 0.6% after a 0.5% decline in the quarter before this.The big drag came from exports, slumping by 1.7% and reversing a 2.8% increase in the previous quarter. That saw net trade subtract 0.6% from growth, although inventory changes provided a 0.4% cushion and domestic demand added the final 0.1%.So, what does this mean for the ECB?Well, the latest figures highlight an economy that is largely struggling amid weak investment and soft external demand. And with France already facing significant fiscal challenges, there's limited room for government spending to provide much support.So, that doesn't really change all too much for the central bank as much of this sentiment is already captured by the bond market. The French numbers will strengthen the argument for caution on further tightening, although policymakers will remain more concerned about price stability at the balance.But if similar weakness starts showing up elsewhere in the euro area, then the case for further rate hikes will become more and more difficult to justify heading into next year. This article was written by Justin Low at investinglive.com.