29 June 2001, 11:52 French 2001 GDP growth seen 2.3 pct - INSEE
PARIS (AFX) - French GDP is expected to grow by 2.3 pct this year
compared with 3.3 pct growth in 2000, as weakness in global economies
cuts into exports and corporate investment, statistics office INSEE
said.
In the first quarter, INSEE said corporate investment grew at an
annual rate of barely 2 pct, compared with 12 pct seen during the
second half of 2000.
By contrast, household consumption should continue at a rate of 3
pct this year, and continued decreases in unemployment in the second
half will lay the groundwork for a rebound in activity in the second
half, allowing French GDP to outpace its European neighbors, the agency
said.
Earlier this week, French Finance Minister Laurent Fabius said 2001
GDP growth would likely be less than 2.5 pct.
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