France eked out 0.1% growth in Q4 as energy crisis eased

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France managed to eke out meagre growth in the final quarter of 2022 as falling energy imports and firm business investment offset a pullback in consumer spending, preliminary gross domestic product (GDP) figures released on Tuesday showed.

The euro zone's second-biggest economy grew 0.1% in the period, down from 0.2% in the third quarter, the INSEE national statistics agency said.

The French fourth quarter GDP figures also provided a positive contrast to Germany after data on Monday showed that the euro zone's biggestFor 2022 as a whole, the French economy grew by 2.6%, roughly in line with the government's expectations. "However, the weakness of domestic demand at the end of last year suggests that a recession is likely, albeit not certain," he added.

INSEE said that foreign trade added 0.5 percentage points to GDP in the final quarter of 2022 as exports fell only 0.3 percentage points against 1.9% for imports on lower energy prices.

 

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