France's first-quarter growth at 0.3 pct: Insee

Source: Xinhua| 2017-04-28 20:26:36|Editor: xuxin
Video PlayerClose

PARIS, April 28 (Xinhua) -- France recorded a slower than expected economic pace of 0.3 percent GDP growth in first three months of the year due to sluggish household spending and falling exports, a report said Friday.

Rising by 0.5 percent in the last quarter of 2016, economic activity slowed at the start of this year as consumer spending stalled over the period at 0.1 percent from 0.6 percent a quarter earlier, national statistics institute Insee said in the report.

Sales abroad reported a negative trend in the first quarter after falling by 0.7 percent compared to a 1.4-percent rise a quarter earlier, while imports rose by 0.7 percentage points to 1.5 percent.

Consequently, "foreign trade balance weighed down on GDP growth: -0.7 points after +0.2 points in the previous quarter," said the report.

For 2017, the French government expects economic growth to expand by 1.5 percent from 1.1 percent a year earlier.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001362442011