BRUSSELS France is too optimistic about the morale of its consumers next year, EU Economic and Monetary Affairs Commissioner Olli Rehn said on Wednesday, outlining why the EU executive forecasts lower French growth than the government in Paris.
The Commission forecasts economic growth in France of just 0.4 percent next year, half the 0.8 percent level on which the French government's 2013 budget is based.
"We cannot expect such an improvement until 2014, so the Commission estimates that domestic demand will remain depressed in 2013," Rehn said. "In 2014, a recovery of investment and consumption would lead to a GDP increase of 1.2 percent." (Reporting by Robin Emmott; editing by Rex Merrifield)