French economy sees 0.6% growth in Q2

| August 13, 2010 | 0 Comments

Paris-based statistics office INSEE has today announced economic growth in France grew by 0.6% in the April to June period.

The figures were higher than the 0.4% expected by analysts.

In addition, first quarter growth was revised upwards from 0.1% to 0.2%, said INSEE.

France’s economy has now grown for five consecutive quarters after the worst recession since World War II.

French Finance Minister Christine Lagarde described the figures as “encouraging”.

Speaking on Europe1 radio, she said: “I hope we’re entering a virtuous circle where private sector investment leads to job creation“.

The figures come on the same day that German’s statistics office, Destatis, said Germany grew by a record 2.2% in the second quarter – the fastest quarterly growth in 20 years.

The figures smashed analysts forecasts who had expected growth of around 1%.

However, Greece hasn’t fared so well after the economy contracted by 1.5% in the second quarter – suggesting the country’s recession is far worse than originally anticipated.

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