French 2004 growth ‘should reach’ 2.3 percent

24th June 2004, Comments 0 comments

PARIS, June 24 (AFP) - French economic growth should reach 2.3 percent this year, the French statistics agency INSEE forecast in a quarterly report released Thursday.

PARIS, June 24 (AFP) - French economic growth should reach 2.3 percent this year, the French statistics agency INSEE forecast in a quarterly report released Thursday.

French growth is therefore expected to surpass the 12-nation eurozone's average growth rate, which was estimated at 1.8 percent this year.

After growth of 0.8 percent in the first quarter, French growth was seen at 0.5 percent in the second quarter, 0.6 percent in the third quarter and 0.5 percent in the final quarter.

In the beginning of the year, growth was underpinned by domestic demand with consumption increasing and investment recovering. The trend was seen continuing through the rest of the year although weakening slightly in the second half.

Inflation for the year was estimated at 1.7 percent.

The unemployment rate was expected to rise slightly to 9.9 percent in the second and third quarters from 9.8 percent at the end of the first quarter but then fall to 9.8 percent by the end of the year.

© AFP

 

Subject: French news

0 Comments To This Article