French Q4 economic growth revised upwards

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France's economic growth for the fourth quarter of 2010 was revised upwards slightly from 0.3 percent to 0.4 percent Friday, while the full year rate of 1.5 percent remained unchanged.

That's because the national statistics agency INSEE gave with one hand and took with the other, revising downwards the third quarter growth figure to 0.2 percent from the 0.3 percent given in its earlier estimation.

The changes were due to the use of "new indicators" used by INSEE, notably a lower weighting given to consumer services.

The growth in the value of exports slowed in the fourth quarter to 1 percent from 2.6 percent.

Meanwhile household spending power rose by 0.3 percent in the last three months of the year, after a 0.7 percent rise in the previous quarter.

© 2011 AFP

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