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France revises growth upwards in boost for Macron

Business-friendly Emmanuel Macron has spent his first year in office pushing for deep reforms in France
Business-friendly Emmanuel Macron has spent his first year in office pushing for deep reforms in France

France's economy grew 2.2% in 2017, according to revised figures published today - good news for President Emmanuel Macron as he pursues ambitious reforms designed to make the country more competitive. 

National statistics office INSEE revised its growth for last year up from 2%, while revising down the public debt ratio by a slight 0.2% to 96.8%. 

Inflation was steady in April at 1.6%, supported by a rise in energy prices, INSEE said. 

The euro zone's second biggest economy added 57,900 private sector jobs in the first quarter of 2018 - growth of 0.3% and representing a slight slowdown from the end of 2017, according to INSEE's preliminary estimates. 

Over a year, France added 270,200 jobs, a rise of 1.4%. 

Business-friendly Macron has spent his first year in office pushing for deep reforms in France, passing controversial changes to the rigid labour code intended to make it easier to hire and fire people. 

He has also cut wealth taxes as part of measures to boost investment.