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French first-quarter growth confirmed to have slowed down to 0.2 percent -INSEE

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French first-quarter growth confirmed to have slowed down to 0.2 percent -INSEE

French first-quarter growth confirmed to have slowed down to 0.2 percent -INSEE
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PARIS (Reuters) - French economic growth slowed to 0.2 percent in the first quarter from 0.7 percent in the previous three months, the country's national INSEE statistics agency said on Friday, confirming its earlier estimate.

INSEE added that corporate margins dipped to 31.9 percent from 32.0 percent in the fourth quarter, while the household savings rate edged up to 22.9 percent from 22.4 percent.

Earlier this week, INSEE forecast slower French economic growth for this year in the face of a stronger euro, higher oil prices and uncertainty about protectionism.

French Finance Minister Bruno Le Maire nevertheless said this week that he was sticking to an economic growth target of 1.8 percent for 2018 despite the wider slowdown in the eurozone.

For a graphic of GDP by contributions: http://reut.rs/2oQ8Pxu

For further details from INSEE: http://www.insee.fr/en/themes/info-rapide.asp?id=26

(Reporting by Sudip Kar-Gupta; Editing by Matthias Blamont)

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