(MENAFN- Qatar News Agency) The French economy grew by only a tepid 0.3 percent in 2013, up from zero growth the previous year, but economic activity is expected to pick up and be around triple the 2013 performance this year.
The National Statistics Institute (INSEE) confirmed on Friday that Gross Domestic Product (GDP) expanded by 0.3 percent in the fourth quarter of last year, bringing the growth total for all of 2013 to 0.3 percent, slightly higher than previously expected. The stronger showing last year was attributed in part to a hike in consumer spending towards the end of the year
The government is forecasting GDP growth of around 0.8-0.9 percent for 2014, which is also in line with estimates by several economic monitoring agencies. But this may not be enough to put a dent in France's burgeoning unemployment, which has reached an official level of 3.3 million people, or 11.1 percent of the workforce. In reality, the jobless level is likely to be just under 5.0 million if we include those who have stopped seeking work or are in precarious employment
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