France posts economic growth of 2.6% in 2022

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In 2022, the Gross Domestic Product (GDP) benefited from the resumption of activity registered in the second half of 2021. France registered economic growth of 2.6% in 2022, despite a slowdown in the fourth quarter due to a regression in the consumption of families in a scenario of high inflation, announced the National Institute of Statistics and Economic Studies (INSEE). In 2022, the Gross Domestic Product (GDP) benefited in particular from the resumption of activity registered in the second half of 2021 “when emerging from the health crisis”, explained the institute. The result exceeds the forecasts of INSEE, which projected annual GDP growth of 2.5% and a contraction of 0.2% in the fourth quarter, which, however, recorded a slight increase of 0.1%. After economic growth of 0.2% in the third quarter, the last three months of the year were marked by a significant drop in household consumption (-0.9%). The INSEE also released this Tuesday the first estimate for inflation in January in France, which registered a slight acceleration to 6%, after registering an index of 5.9% in December. The slight increase in inflation was caused by the acceleration of food and energy prices, respectively 13.2% and 16.3% over the course of a year, said the INSEE.

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