French growth slows after strong start
AFP · 24 Jun 2011, 08:52
Published: 24 Jun 2011 08:52 GMT+02:00
INSEE said it was downgrading its second quarter growth forecast to 0.2 percent from 0.4 percent, and expected gains of 0.5 percent in both the third and fourth quarters.
"After a sharp acceleration in the first quarter, we expect a clear slowdown in the second," INSEE said.
First quarter growth had come in at 1.0 percent, well above INSEE's estimate for 0.6 percent, as the economy enjoyed a strong boost.
The government currently forecasts 2011 growth at 2.0 percent.