4 July 2001, 15:44 French 2001, 2002 GDP growth seen at 2 pct - Expansion group
PARIS (AFX) - French GDP growth is seen at 2 pct for both 2001 and
2002, according to a report from the economic forecasting unit of the
Expansion publishing group, which lowered its projections by 0.5 pct
due to the impact of the US economic slowdown.
Inflation is seen rising at a 1.8 pct rate by the end of this year,
before slowing to 1.5 pct in 2002. Rising prices, along with a
decreased tax burden from cuts announced by the French government for
this year, will continue to fuel consumer spending, said Philippe
Lefournier, director of the forecasting unit.
Last week, French statistics office INSEE forecast 2001 GDP growth
of 2.3 pct, well below the current government growth forecast of 2.9
pct.
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