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France records better-than-expected growth in Q1: Insee

Xinhua, May 13, 2015 Adjust font size:

French economy rebounded by 0.6 percent in the first quarter of this year, a 0.2 percent increase compared to a previous estimate thanks to strong households consumption, national statistics institute Insee said Wednesday.

From January to March, French consumer expenditure, one of the main growth engines in eurozone's second largest economy, grew by 0.8 percent on weak energy prices, against 0.1 percent rise at the end of 2014, helping French dim growth to reach a two-year high, Insee figures showed.

Industrial output also bounced by 1.3 percent over the period after reporting almost unchanged trend over the last quarter of the previous year, while investment lost 0.2 percent, according to the report.

Speaking to the news channel BFMTV, French Finance Minister Michel Sapin noted "recovery signs," but adding that the better-than-expected economic performance "doesn't allow to lower the unemployment."

Sapin also projected that French economy will expand more quickly than expected this year, with the gross domestic product now forecasted at more than 1 percent compared to 0.4 percent in 2014. Endi