PARIS (dpa-AFX) - France's economic growth remained steady in the fourth quarter of 2018, supported by foreign trade, while domestic demand slowed, preliminary data from the statistical office INSEE showed on Wednesday.
Gross domestic product grew 0.3 percent quarter-on-quarter, same as in the third quarter. Economists had forecast 0.2 percent expansion.
Household consumption stagnated after 0.4 percent growth in the previous quarter, while the rate of increase in fixed investment slowed to 0.2 percent from 1 percent.
Domestic demand contributed just 0.1 points to GDP growth in the fourth quarter versus 0.5 points in the previous three months.
Imports grew 1.6 percent, rebounding from a 0.7 percent slump in the previous quarter. Export growth accelerated to 2.4 percent from 0.2 percent.
Consequently, foreign trade contributed 0.2 points to GDP growth after 0.3 points in the previous quarter.
Meanwhile, changes in inventories deducted 0.1 points from the fourth quarter GDP growth after a 0.5 points reduction in the previous three months.
The average growth rate for 2018 was 1.5 percent, which was much slower than the 2.3 percent logged in 2017.
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