France records better-than-expected quarterly growth

France saw a growth of 0.5 percent in the first three months of this year, due to boosted consumption and growing corporate investment, the figures released by the national statistics institute Insee showed on Friday.

Compared to 0.3 percent growth in last quarter of 2015, French economy achieved better-than-expected performance for the January-March of 2016 as households expenditure and investment,the economy "growth engines", grew by 1.2 percent and 1.6 percent respectively.

However, the growth of sales abroad lost 0.2 percent compared to 1 percent increase a quarter earlier, while that of imports slowed down to 0.5 percent. Consequently, "foreign trade balance weighed again on GDP growth," Insee said.

"Solid growth has been set off with surging consumption and accelerated investment," French Finance Minister Michel Sapin said, adding in a statement "our action is bearing fruit."