France’s GDP grows 1.1 percent in 2015

Paris, Jan 30 (IANS) France expanded its gross domestic product (GDP) by 1.1 percent in 2015 in line with the government’s target, compared to the 0.2 percent rise a year earlier, Insee figures showed.

Last year, France saw household consumption at 1.4 percent, up by 0.8 percentage points with purchasing power improving to 1.8 percent from 1.1 percent reported in 2014, Xinhua cited Insee, responsible for coordinating France’s official statistical service, as saying.

Over the period, France’s industrial production grew by 1.3 percent, mainly due to boosted output in manufacturing, according to Insee’s report on Friday.

Investment increased by two percent, exports accelerated by 5.9 percent while imports gained 2.2 percentage points to 6.3 percent.

“2015 was the year of recovery which must be expanded in 2016 to allow us to create more jobs. That’s our priority,” French Finance Minister Michel Sapin said.

France estimates a GDP growth of 1.5 percent for 2016.

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