France's economic growth remained steady in the fourth quarter of 2018, supported by foreign trade, while domestic demand slowed, amid disruptions to activity caused by the "yellow vests" protests.

Gross domestic product grew 0.3 percent quarter-on-quarter, same as in the third quarter, preliminary data from the statistical office INSEE showed on Wednesday. Economists had forecast 0.2 percent expansion.

The Bank of France had forecast 0.2 percent growth for the fourth quarter.

Household consumption stagnated after 0.4 percent growth in the previous quarter, while the rate of increase in fixed investment slowed to 0.2 percent from 1 percent. 

Domestic demand contributed just 0.1 points to GDP growth in the fourth quarter versus 0.5 points in the previous three months.

Imports grew 1.6 percent, rebounding from a 0.7 percent slump in the previous quarter. Export growth accelerated to 2.4 percent from 0.2 percent. 

Consequently, foreign trade contributed 0.2 points to GDP growth after 0.3 points in the previous quarter.

Meanwhile, changes in inventories deducted 0.1 points from the fourth quarter GDP growth after a 0.5 points reduction in the previous three months. 

The average growth rate for 2018 was 1.5 percent, which was much slower than the 2.3 percent logged in 2017.

Recent economic data has also signaled a weaker economic outlook for France in the near term.

The latest purchasing managers' survey showed that the private sector contracted at the fastest pace in fifty months. The services activity declined further, while the manufacturing sector expanded at the fastest pace in three months. Separately, the INSEE reported on Wednesday that household spending on goods decreased 1.5 percent monthly in December after a 0.1 percent drop in November.

The agency also reported that total producer prices decreased 1 percent monthly in December after a 0.2 percent increase in November. Prices fell for the first time since May 2018. Producer price inflation halved to 1.2 percent from 2.4 percent.

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