PARIS, Jan. 30 (Xinhua) -- France's gross domestic product (GDP) grew by 0.9 percent year-on-year in 2023, according to the National Institute of Statistics and Economic Studies (INSEE) on Tuesday.

       The average annual growth was mainly driven by a considerable rise of 0.5 percent in the second quarter, while growth remained null over the rest of the year.

       In the fourth quarter, the French economy remained stable, registering zero percent growth. Final domestic demand contributed negatively to the GDP growth due to decreases in investment and household consumption. But foreign trade recovered and contributed positively to the GDP growth, INSEE said.

       For the year 2024, the French government targets a 1.4 percent economic growth, with inflation brought down to 2.6 percent. On Tuesday, the International Monetary Fund (IMF) revised its forecast for France's economic growth in 2024 from 1.3 percent to 1 percent.