Paris - Saba:
The French economy recorded an unexpectedly high growth rate during the second quarter of this year, as inventory buildup offset a decline in domestic demand.
The French statistics office, INSEE, reported on Wednesday that the French economy grew by 0.3% of its gross domestic product (GDP) during the second quarter, compared to most analysts' expectations of growth at the same rate as the first quarter, at 0.1%.
The INSEE report showed that this increase was entirely due to increased inventories, while trade pushed the overall figure down, and domestic demand did not contribute at all to growth.
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