French growth picked up in the final quarter of 2003, with a rise in imports and investment breathing life into the economy at the end of a weak year which saw growth at its lowest rate for a decade.
National statistics office INSEE said on Friday the French economy, the euro zone's second largest after Germany, grew 0.5 percent in the October-December period. This confirmed a "flash estimate" released last week and met market expectations.
Over the full year, the economy grew a just 0.2 percent in 2003, the lowest since a contraction in 1993, INSEE confirmed.
The fourth quarter growth rate was in line with the mid-range forecast given by economists polled by Reuters.
A breakdown of the fourth quarter gross domestic product (GDP) figures showed consumer spending rose just 0.3 percent after rising 0.5 percent in the third quarter.
Growth in France has been held back by persistently high unemployment, which rose to 9.7 percent in December. Worried about joblessness, consumers have held down their spending.
The French news followed a report on Thursday showing the German economy expanded just 0.2 percent in the final quarter of last year as consumer spending remained sluggish and the strong euro held back exports.
Together, France and Germany account for around half the output of the 12-nation euro zone.
The French report showed investment rose 0.7 percent in the fourth quarter, with public investment up 1.4 percent and business investment up 0.6 percent.
Imports rose 2.1 percent. Ferry said this was a correction from the third quarter, when imports were flat after a 0.5 percent increase in the second quarter.
Finance Minister Francis Mer said on French television station LCI on Thursday that growth was taking hold in France and that there was a good chance it would reach the government's target of 1.7 percent this year.
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