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France's quarterly growth up 0.3 pct

Xinhua, November 13, 2015 Adjust font size:

Economic growth in France rebounded by 0.3 percent during the third quarter of the year compared to zero growth recorded a quarter earlier, the National Institute for Statistics and Economic Studies (INSEE) said Friday.

Over the third quarter, growing household consumption and higher investments helped the eurozone's second largest economy to accelerate its gross domestic product (GDP) by 0.3 percent.

In its quarterly economic report, INSEE data showed a recovery in consumer expenditure which grew by 0.3 percent compared to the second quarter of the year.

Recording a rise for the sixth consecutive month, enterprise investment was up by 0.7 percent, driving up total investment by 0.1 percent for the July-September period after it had lost momentum a quarter earlier.

With an improved domestic business climate, manufacturing output grew 0.3 percent compared to a 0.6 percent fall in the second quarter on boosted coke and refined petroleum activity, the report added.

"The figure published this morning confirms that in 2015 we left the very low growth period that France witnessed since the end of 2011," said French Finance Minister Michel Sapin.

The positive quarterly economic performance backed the government's forecasts of 1.1 percent growth this year and 1.5 percent in 2016, he added. Endit