France Avoids Recession With 0.2% Growth

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France's economy grew 0.2% in the second quarter, recovering from a 0.1% contraction at the start of the year, according to preliminary data from statistics agency INSEE.

France's economy returned to growth in the second quarter, recovering from a slight contraction earlier in the year, according to a first estimate published on Thursday by French statistics agency INSEE.

The eurozone's second-largest economy grew by 0.2% in the April to June period, up from a 0.1% contraction in the previous quarter, driven by stronger domestic demand and improved export performance. The rise in gross domestic product over the quarter was in line with forecasts from the Bank of France, though it came in below INSEE's earlier projection of 0.3% growth.

 

Source: CNA