Showing posts with label france. Show all posts
Showing posts with label france. Show all posts

Thursday, 16 May 2013

French economy returns to recession

French president Francois Hollande has introduced
reforms aimed at boosting the country's economy
France has entered its second recession in four years after the economy shrank by 0.2% in the first quarter of the year, official figures show.

Its economy shrank by the same amount in the last quarter of 2012. A recession is defined as two consecutive quarters of negative growth.

France has record unemployment and low business and consumer confidence.
Separate figures showed that the recession across the 17-nation eurozone has continued into a sixth quarter.