'An Unpleasant Surprise': France Faces Spectre of Recession
10 Articles
10 Articles
In its first estimate, INSEE had announced zero tricolor growth between January and March.
'An unpleasant surprise': France faces spectre of recession
French GDP shrank 0.1 percent in the first quarter, official data showed Friday, a downward revision from previous estimates that analysts warn could herald a recession for the eurozone's second-biggest economy.
France is facing weak domestic demand and a decline in exports, with the economy shrinking by 0.1 percent in the first quarter.
French exports are falling significantly, which is a burden on economic performance. Despite the increased energy costs, however, inflation is moderate.
French GDP fell by 0.1% in the first quarter, presented INSEE on Friday 29 May. The Institute thus lowers its forecasts.
The statistical institute initially announced zero growth from January to March. Both domestic demand and foreign trade weighed.
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