French economy stalls in third quarter

4th January 2005, Comments 0 comments

PARIS, Jan 4 (AFP) - The French economy stalled in the third quarter compared to performance in the previous quarter, the INSEE statistics office said Tuesday.

PARIS, Jan 4 (AFP) - The French economy stalled in the third quarter compared to performance in the previous quarter, the INSEE statistics office said Tuesday.

That compared with a quarterly growth rate of 0.6 percent in the second quarter.

The third quarter reading - the third estimate for third-quarter French gross doemstic product - fell short of most analysts' forecasts for a rise of 0.1 percent.

A breakdown of the data showed that household spending in France fell 0.2 percent in the third quarter compared with growth of 0.4 percent in the previous quarter. Business investment slumped 1.1 percent after an increase of 1.4 percent in the second quarter.

Exports grew 0.8 percent in the third quarter while imports increased 2.5 percent.

© AFP

Subject: French News

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