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French GDP contracts in fourth quarter of 2024

Paris, Jan 30 (Prensa Latina) France's Gross Domestic Product (GDP) contracted by 0.1 percent in the fourth quarter of 2024 after a drop in foreign trade, an official source stated on Thursday.

A National Institute for Statistics and Economic Studies (INSEE) report noted that foreign trade fell by 0.2 percent between October and December, a period in which there was also a decline driven by household consumption.

France’s GDP grew 0.4 percent in the third quarter, boosted by the Paris 2024 Olympic Games.

The year-end fall comes on top of the bad news that unemployment rose by nearly four percent.

Overall, INSEE recorded a GDP growth of 1.1 percent in 2024, in line with government forecasts.

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