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French fourth quater growth of 0.1% meets expectations

2014 was the third year in a row of full-year growth of 0.4% for France
2014 was the third year in a row of full-year growth of 0.4% for France

The French economy grew by 0.1% in the fourth quarter of 2014, meeting analysts' expectations, preliminary figures from the INSEE national statistics agency show today. 

A Reuters poll had forecast on average 0.1% growth in the three months to December from the previous quarter, when growth rose 0.3%. 

The result, helped by consumer and public spending, meant the euro zone's second-largest economy grew by 0.4% over the course of last year, matching the government's estimate for full-year growth. 

2014 was the third year in a row of full-year growth of 0.4%. 

"It's obviously still too weak, but the conditions are ripe to permit a cleaner start of activity in 2015," said Finance Minister Michel Sapin, who added that business leaders were already beginning to increase investment. 

The French government is predicting a 1% rise in GDP in 2015, hoping to end a period of anaemic growth that has kept investment low and joblessness high. 

On Monday, France's central bank predicted first-quarter growth of 0.4%, led by a rise in industrial production and a slight improvement in services activity.