The French economy stagnated in the first quarter of 2012 after a modest growth in the fourth quarter of 2011, the statistical office Insee said Tuesday, 15 May 2012.
The gross domestic product recorded no change during the first three months of the year in line with economists' expectations. The fourth quarter growth rate, meanwhile, was revised down to 0.1 percent from the previously estimated 0.2 percent.
Consumer spending grew 0.2 percent quarter-on-quarter during the first quarter, while investment declined 0.8 percent. Overall domestic demand, excluding inventory changes, contributed just 0.1 percentage point, less than 0.3 percentage point added in the fourth quarter. Imports rebounded, whole export growth slowed. Consequently, foreign trade balance contributed negatively to GDP growth. Changes in inventories contributed positively to GDP.
The gross domestic product recorded no change during the first three months of the year in line with economists' expectations. The fourth quarter growth rate, meanwhile, was revised down to 0.1 percent from the previously estimated 0.2 percent.
Consumer spending grew 0.2 percent quarter-on-quarter during the first quarter, while investment declined 0.8 percent. Overall domestic demand, excluding inventory changes, contributed just 0.1 percentage point, less than 0.3 percentage point added in the fourth quarter. Imports rebounded, whole export growth slowed. Consequently, foreign trade balance contributed negatively to GDP growth. Changes in inventories contributed positively to GDP.
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