France's economic growth decelerated sharply in the first quarter according to government estimates published Friday, but economists believe the blip is temporary as President Emmanuel Macron pushes a business-friendly agenda. National statistics agency INSEE estimated growth between January and March at 0.3 percent compared with the previous quarter, a steep drop from expansion of 0.7 percent in the last quarter of 2018. The agency blamed the slowdown, which follows five consecutive quarters of growth at 0.5 percent or higher, on sluggish household consumption. Household spending rose by only 0.2 percent in the first three months of the year despite a rise in energy consumption due to the "Beast from the East" cold snap that swept through Europe.
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