World Economy

France Growth to Accelerate

France Growth  to AccelerateFrance Growth  to Accelerate

France’s National Statistics Institute Insee has said it expects the country’s economic growth to accelerate to 1.6% this year, Xinhua reported. According to the report, Insee said it expects the country’s jobless claims to fall too due to improving investment and household expenditure. Insee said it expects the French economy to grow by 0.3% in the second and third quarter, followed by a growth of 0.4% in the last quarter of the year. This is expected to lead to a full-year growth above the official target of 1.5%. Low energy prices and cheaper borrowing costs would bolster households’ consumption and corporate investment, which together account for 76% of the gross domestic product, according to the report. Insee sees the full-year household demand increase by 1.6%, the highest level since 2010, while corporate investment is expected to hit an eight-year high of 4.7%.