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French economic recovery on track; outpaces Britain

Oct 31, 2017, 7:41 AM EDT
The figures come as a boost for French President Emmanuel Macron, as the 1.7% growth target appears well within reach.
(Source: OFFICIAL LEWEB PHOTOS/flickr)

French GDP growth coursed along the recovery path for the fifth consecutive quarter, outpacing the U.K.’s economic expansion this year. Buoyed by accelerated household spending and a leap in business investment, France recorded an annual growth rate of 2.2%, its highest since 2011 while Britain managed a GDP growth of 1.5%.

Stats attribute the French GDP recovery to higher business spending on machinery and equipment, a jump in household spending and inventory changes as firms shifted focus to new raw materials and components, writes The Guardian.

The figures come as a boost for French President Emmanuel Macron, as the 1.7% growth target appears well within reach. 

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