PARIS: France’s economy expanded at a faster pace, as estimated, in the fourth quarter driven by consumption and investment, the second estimate from the statistical office Insee said.
Gross domestic product grew 0.4 percent sequentially, following a 0.2 percent expansion seen in the third quarter. The Insee confirmed the first estimate published on January 31.
Household consumption advanced 0.6 percent and government spending by 0.4 percent.
Growth in gross fixed capital formation doubled to 0.4 percent from 0.2 percent. Exports and imports climbed 1.3 percent and 1 percent, respectively. As a result, net trade contributed 0.1 point to growth.
Conversely, changes in inventories contributed negatively by 0.1 points.
On an average, GDP expanded 1.1 percent in 2016 after rising 1.2 percent in 2015. The annual figures also matched preliminary estimate.
