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30 January

By Ahmed Mamdouh

Category: FX Graph

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France reports best growth pace since 2011

The preliminary gross domestic product for the fourth quarter figures released on Tuesday showed that the French economy reported its best growth pace since 2011.

Last year, the euro area’s second biggest economy expanded 1.9 percent, recording the best full-year growth since 2011. That growth level is comfortably above the 10-year average delivered until 2016 of 0.8 percent.

Throughout the three months ended December, the French economy grew 0.6 percent, similar to forecasts, following a revised 0.6 percent expansion in the third quarter.

The economy has taken advantage of the win of Emmanuel Macron in Presidential elections as well as the recovery in global growth.

As of 07:40 GMT, the euro extended its drop for a second straight session to $1.2362, yet set for its third consecutive monthly gain in January.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.