National statistics office INSEE said on Friday the French economy, the euro zone’s second largest after Germany, grew 0.5 percent in the October-December period. This confirmed a “flash estimate” released last week and met market expectations.
Over the full year, the economy grew a just 0.2 percent in 2003, the lowest since a contraction in 1993, INSEE confirmed. The fourth quarter growth rate was in line with the mid-range forecast given by economists polled by Reuters.
“This growth is due to the world rebound, which in turn is driving investment in France, and imports,” said J.P. Morgan economist Maryse Pogodzinski.