French economy grows 0.2 pct in 3Q 16, growth target unlikely

PARIS, Oct 28 (KUNA) -- France's economy grew slower than needed in the third quarter to achieve annual growth targets, with Gross Domestic Product (GDP) progressing by only 0.2 percent after a decline of 0.1 percent in the second quarter, the National Statistics Institute (INSEE) said on Friday.
The latest data indicated that the government will not likely achieve its growth target for all of 2016 and this will affect budget deficits and commitments to reduce these. The government had originally indicated it expected GDP to expand by 1.5 percent this year.
INSEE said that stagnating household consumption for the second consecutive quarter combined with declines in activity in the energy, transport and some other industrial sectors largely accounted for the lacklustre performance during the third quarter. (end) jk.tg