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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