India, Jan. 30 -- The French economy contracted for the first time in nearly two years in the fourth quarter as the positive impact of the Paris Olympics and Paralympic Games faded, official data revealed Thursday.
Gross domestic product shrank 0.1 percent sequentially after expanding 0.4 percent in the third quarter, first estimate from the statistical office INSEE showed.
This was the first quarterly fall since the March quarter of 2023, when GDP fell similarly by 0.1 percent. Detailed data for the fourth quarter is due on February 28.
The expenditure-side of GDP showed that household spending growth softened to 0.4 percent from 0.6 percent. Gross fixed capital formation slid 0.1 percent, slower than the 0.3 percent drop in the precedi...