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French Economic Growth Stable In Q4, Slows Sharply In 2018

PARIS (Alliance News) - France's economic growth remained steady in the fourth quarter of 2018, ...

Alliance News 30 January, 2019 | 7:17AM
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PARIS (Alliance News) - France's economic growth remained steady in the fourth quarter of 2018, supported by foreign trade, while domestic demand slowed, preliminary data from the statistical office INSEE showed on Wednesday.

Gross domestic product grew 0.3% quarter-on-quarter, same as in the third quarter. Economists had forecast 0.2% expansion.

Household consumption stagnated after 0.4% growth in the previous quarter, while the rate of increase in fixed investment slowed to 0.2% from 1%.

Domestic demand contributed just 0.1 points to GDP growth in the fourth quarter versus 0.5 points in the previous three months.

Imports grew 1.6%, rebounding from a 0.7% slump in the previous quarter. Export growth accelerated to 2.4% from 0.2%.

Consequently, foreign trade contributed 0.2 points to GDP growth after 0.3 points in the previous quarter.

Meanwhile, changes in inventories deducted 0.1 points from the fourth quarter GDP growth after a 0.5 points reduction in the previous three months.

The average growth rate for 2018 was 1.5%, which was much slower than the 2.3% logged in 2017.

Copyright RTT News/dpa-AFX

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