French real GDP has surprised to the upside in the first quarter of 2008. Growth rose 0.6% q/q (seasonally adjusted) after gaining 0.3% in the previous quarter. This come primarily thanks to a significant pickup in exports, while private consumption softened. We expect domestic demand to come in weaker this year than previously forecast and anticipate a 1.6% GDP expansion for 2008 as a whole. ...
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