PARIS, Jan. 30 (Xinhua) -- France's national statistics institute Insee confirmed on Wednesday the country's growth rate at 1.5 percent for 2018, lower than an initial estimate of 1.6 percent.
Last year, the gross domestic product (GDP) of the eurozone's second biggest economy was below the government's budget draft forecast of 1.7 percent and down by eight percentage points compared to 2017 data.
In the last three months of 2018, France's economy was up by 0.3 percent. This follows a same performance growth in the third quarter and 0.2 percent increase recorded in first and second quarters.
Last year's result stemmed mainly from slowing investment and industry business which decelerated by 2.9 percent and 2 percent respectively. They had risen by 4.7 percent and 2.6 percent respectively in 2017.
Household consumption, one of the country's key growth engine, also reported tepid result with 0.8- percent increase in 2018 from 1.1-percent rise a year earlier, Insee figures showed.
Foreign trade balance contributed positively to the GDP by 0.6 point after sales abroad decelerated less markedly than imports.
"Despite the deterioration of the international environment and the movement of yellow vest, French growth is solid. Our policy bore results," French Finance Minister Bruno Le Maire tweeted.
"Our economic policy is working. We continue the transformation of the French economy in the service of the French," he added.