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France economy grew 2.6% in 2022

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The French economy barely dodged a contraction in the final quarter of 2022 despite inflation forcing households to reduce spending, and grew 2.6% for the year, new figures show today.

The figures were better than projections of gross domestic product expanding by 2.5% for the year, and for a contraction of 0.2% in the fourth quarter.

Household spending dropped by 0.9% by in the final three months of the year, but foreign trade contributed positively as imports fell by 1.9%, outweighing a 0.3% dip in exports. "Consumption isn't doing well and such a fall in imports isn't a good sign as that is saying that internal demand is really very weak," he added.

 

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