RTTNews - Friday, the French statistical office, INSEE confirmed a 1.2% sequential contraction for its economy in the first quarter.
At the same time, the statistical agency revised the figure for the fourth quarter to show a fall of 1.4% from a 1.5% contraction reported initially.
According to the final report, households' consumption expenditure rose 0.2%, while government spending was flat. Total gross fixed capital formation in the first quarter was down 2.4%. Exports dropped 6.4%, exceeding a 5.3% fall in imports.
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