Bank of France forecasts 0.1pc GDP growth in first quarter

PARIS: The Bank of France on Friday forecast a small gain in French gross domestic product of 0.1 percent in its first estimate of growth in the first quarter of 2013.

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

The government is hoping for 0.8 percent GDP growth this year, but INSEE forecasts the French economy to expand by just 0.1 percent 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 percent in the third quarter of 2012 according to INSEE's figures.