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UPDATE 1-French Q3 GDP growth to equal or exceed Q2 -Lagarde

Published 10/30/2009, 03:43 AM
Updated 10/30/2009, 03:51 AM

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HONG KONG, Oct 30 (Reuters) - France's gross domestic product (GDP) should grow as much or more in the third quarter than it did in the second, French Economy Minister Christine Lagarde said during a visit to Hong Kong on Friday.

The French economy emerged from recession in the second quarter, growing 0.3 percent, and surprising analysts.

"(Third-quarter) GDP will be at least as good if not better than in the second quarter," Lagarde told a press conference in Hong Kong at the end of a three-day trip to China.

France is due to release third-quarter gross domestic product data on Nov. 13.

Lagarde also said China should decide on the valuation of its currency, the yuan . Many Western governments believe Beijing deliberately undervalues the currency, giving it an unfair trade advantage, and urge Beijing to allow the yuan to appreciate more rapidly.

"China decides for itself (on its currency)," Lagarde said. (Reporting by Susan Fenton, writing by Doug Young; Editing by Chris Lewis)

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