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France's GDP up 0.7 percent in second quarter
Date: 2010/9/27 Click: 1740
France's gross domestic product (GDP) grew 0.7 percent in the second quarter above an initial estimate of 0.6 percent from a quarter earlier, the national statistics institute Insee reported Friday.

The second key European economy's GDP gained 0.1 points for the April-June period as household expenditures increased 0.3 percent while the saving rate stood at 16.1 percent, up from 15.8 percent in the first quarter.

Investment growth rose 0.8 percent after falling 0.9 percent during the first three months with the cash of non-financial firms increased 1.1 percent following two years of decline.

According to Insee, the country's imports grew 3.9 percent while sales abroad registered a 2.8 percent rise compared with 4.5 percent in the previous quarter.

As a result, the trade balance contributed negatively to GDP growth after dropping 3 points.

France estimates gross domestic product at 1.5 percent this year after it fell 2.5 percent in 2009 in a move to cut the public gap and create enough jobs in the country of 65 million population.
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