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Saturday, May 26, 2018

France revises growth upwards in boost for Macron

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France's economy grew 2.2 percent in 2017, according to revised figures published Tuesday -- good news for President Emmanuel Macron as he pursues ambitious reforms designed to make the country more competitive.

National statistics office INSEE revised its growth for last year up from 2.0 percent, while revising down the public debt ratio by a slight 0.2 percent to 96.8 percent.Inflation was steady in April at 1.6 percent, supported by a rise in energy prices, INSEE said.

The eurozone's second biggest economy added 57,900 private sector jobs in the first quarter of 2018 -- growth of 0.3 percent, representing a slight slowdown from the end of 2017, according to INSEE's preliminary estimates.

-AFP, Paris

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