Forexpros – ance’s economy stagnated in the first three months of 2012, underscoring concerns over weak growth in the euro zone’s second largest economy, official preliminary data showed on Tuesday.
In a report, INSEE, France’s statistical office, said France’s gross domestic product was flat in the first quarter of 2012, in line with expectations.
France’s economy grew by 0.1% in the fourth quarter, which was downwardly revised from a previously reported 0.2% increase.
Year-on-year, French GDP expanded at an annualized rate of 0.3%, after rising at a rate of 1.2% in the previous quarter and below expectations for a 0.5% expansion.
Following the release of that data, the euro was higher against the U.S. dollar, with EUR/USD gaining 0.21% to trade at 1.2849.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.55%, France’s CAC 40 futures rose 0.6%, London’s FTSE 100 futures added 0.15%, while Germany’s DAX futures gained 0.45%.
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