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France reports zero growth in Q2 on weak consumption, pale investment

Xinhua, August 14, 2015 Adjust font size:

Frances' quarterly growth stagnated in the second three months of the year on weak consumption and wane investment, shrouding in doubts the government's pledge to start lowering alarming unemployment by year end, figures released by national statistics institute Insee showed on Friday.

After a surprise growth rate of 0.7 percent in the first quarter of the year, French economic activities stagnated for the April-June period as households expenditure and investment slowed to 0.1 percent and fell by 0.3 percent respectively.

Growth of sales abroad expanded by 1.7 percent compared to 1.3 percent a quarter earlier, while imports eased to 0.6 percent against the 2.2 percent rise in the first quarter.

"After a very dynamic first quarter, the level of activity has held up. At the end of the first half, the growth is at 0.8 percent which confirms our target of 1 percent for 2015," Finance Minsiter Michel Sapin was quoted as saying by local media. Endit