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WorldPosted at: Apr 29 2016 11:18AM


French economy grows 0.5 pct as consumer spending roars back

PARIS, April 29 (Reuters) The French economy grew 0.5 percent in the first quarter, boosted by the strongest increase in consumer spending since 2004 and beating even the most optimistic forecast, the INSEE national statistics agency said in a preliminary estimate on Friday.
In a preliminary reading of gross domestic product for the quarter, INSEE said the 2 trillion euro economy had accelerated from the 0.3 percent growth posted in the previous three months, as a pick-up in business investment helped offset lower exports and stocks.
A poll of 30 analysts surveyed by Reuters had forecast 0.4 percent growth for the euro zone's second-largest economy in the three months to March, with the lowest estimate at 0.1 percent and the highest at 0.4 percent.
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