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Bank of France forecasts 0.1% GDP growth

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February 08 2013, 7:56PM

The Bank of France has forecast a small gain in French gross domestic product of 0.1 per cent in its first estimate of growth in the first quarter of 2013.

The forecast is the same as that of the country's statistics agency INSEE, which publishes official GDP figures.

The government is hoping for 0.8 per cent GDP growth this year, but INSEE forecasts the French economy to expand by just 0.1 per cent in the first half of 2013 as the eurozone states continue to cut spending to reduce their deficits.

INSEE is due to publish its first estimate on French GDP in the final quarter of 2012 on February 14.

The French economy grew by 0.1 per cent in the third quarter of 2012 according to INSEE's figures.