The French economy continues to gain momentum. The French economy grew at a faster rate than initial estimates in the first quarter of the year, but still has a low growth rate relative to its neighbors to the Euro zone.
French Statistics Insee reported today that France’s GDP grew by 0.4% in the first quarter, compared with an initial estimate of 0.3% growth.
The European interest rates will remain at a record low despite the recovery of the Euro zone economy, as the recovery is still not sustainable, ECB President Mario Draghi said in a speech at the European Parliament.
He explained that inflation should stabilize around 2% and that productivity should grow until the interest rate rises.
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