The French economy stagnated in the first quarter of 2012 as previously estimated, final data from the statistical office Insee revealed Friday.
The gross domestic product logged nil growth after a small 0.1 percent increase in the fourth quarter of 2011.
Household spending showed an increase of 0.2 percent, while investment dipped 0.7 percent. While imports grew 0.8 percent, exports rose only 0.2 percent. As a result, the foreign trade balance contributed negatively to GDP growth.
Finally, changes in inventories contributed slightly by 0.1 point to GDP growth.
The French economy will remain stable in the second quarter, Insee said in a report released on Tuesday. The GDP growth looks set to pick up slightly in the second half with the GDP rising 0.1 percent in the third quarter and 0.2 percent in the fourth quarter.
by RTT Staff Writer
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