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France's economy grows 0.3 percent in Q2

(Xinhua)
Updated: 2009-08-13 23:33

PARIS:France's gross domestic product grew 0. 3 percent in the second quarter of this year, the first rise after four quarters of contraction, the National Statistic Office (INSEE) reported on Thursday.

INSEE said the rebound was partly due to a reduction in the foreign trade balance in the quarter.

Economy Minister Christine Lagarde welcomed the rebound, describing the rise as "extremely surprising" figures.

Speaking on the RTL radio, Lagarde said that France is eventually getting out of the red after negative growth over the past four quarters.

"We have come back to positive growth," she added.

According to INSEE, second-quarter exports grew 1.0 percent while imports declined 2.3 percent. Household consumption grew 0.4 percent, and production increased 0.5 percent.