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French growth revised down

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French growth revised down

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The French economy – the eurozone’s second largest grew at a weaker pace than previously estimated in the third quarter as companies cut spending.

Output grew by 0.3% in the three months to the end of September, lower than the previous estimate of 0.4%. The economy expanded 1.5 percent down from 1.7 in the previous quarter.

Household disposable income, or the cash that consumers have to spend, “markedly decelerated”, said French statistics institute, Insee.