French economy grows by 0.3% in Q4, 2013

14th February 2014, Comments 0 comments

The French economy grew by 0.3 percent in the fourth quarter of 2013, slightly less than previous estimates, official data showed on Friday.

The official INSEE statistics agency had earlier estimated that gross domestic product (GDP) would grow by 0.4 percent in the last quarter of 2013.

Growth for the year also stood at 0.3 percent, slightly higher than the 0.2 percent estimated earlier.

France is the eurozone's second-biggest economy, and the state of its finances are closely watched by its partners, in particular economic powerhouse Germany.

President Francois Hollande, whose approval ratings are at the lowest ever for a French leader in the modern era, has turned his sights on the economy in the hope of avoiding a heavy defeat in local elections next month.

© 2014 AFP

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