The French economy expanded by 0.2% in the fourth quarter compared with the third quarter and by 1.4% in 2005 compared with the previous year, a preliminary official estimate shows today.
The data has been corrected for seasonal variations and differences in the number of working days in the different periods, the French data agency INSEE said. The results are weaker than forecast by government economists and could be revised.
French Finance Minister Thierry Breton said at the beginning of this year that he expected growth of 0.5-0.6% in the fourth quarter and an expansion over the year of 1.5-2%. Consensus among private-sector analysts had been for annual growth of 1.6%.
French economic growth measured 0.3% in the first quarter, 0.1% in the second and 0.7% in the third.
Meanwhile, France had a trade deficit of €26.459 billion in 2005, more than three times higher than its deficit in 2004, data from the French customs
service shows. The trade deficit in 2004 had been €8.284 billion.
In December, the data revealed that the trade deficit had widened compared with the same month of 2004 to €3.102 billion from €3.058 billion, the data showed. Exports in December totalled €31.308 billion, lower than imports worth €34.410 billion.
