France GDP growth lowered to 0.1%
2012-12-28 12:53:01
The French economy expanded only 0.1 percent in the third quarter from the prior quarter, final data from the statistical office Insee showed Friday.
The third quarter growth was downgraded from 0.2 percent and follows a 0.1 percent fall in the second quarter.
On the expenditure front, household spending rose 0.2 percent, while investment dropped 0.3 percent.
At the same time, imports fell 0.5 percent after rising 1.6 percent. On the other hand, growth in exports accelerated to 0.6 percent from 0.3 percent. Hence, the foreign trade balance contributed positively to GDP growth. This contribution is offset by changes in inventories contribution.