French economy to stagnate in Q1 due to higher unemployment and weak purchasing power

France's economic performance is set to stagnate in the first three months of 2013 as nation's unemployment continues to rise notably and as consumer purchasing power stays weak, the statistical office Insee reported on Friday. The report said the French GDP will record nil growth in the Q1 following a 0.3% drop in the Q4, while the unemployment rate is forecast to grow to 11% in mid-2013.