Readers like you keep news free for everyone.

More than 5,000 readers have already pitched in to keep free access to The Journal.

For the price of one cup of coffee each week you can help keep paywalls away.

Support us today
Not now
Advertisement

France enters recession in first quarter

French economic growth has been sluggish lately as a result of record unemployment and falling household demand – the key driver of the economy.

Image: AP Photo/Jacques Brinon

FRANCE ENTERED A recession in the first quarter this year with gross domestic product contracting 0.2 per cent, after shrinking the same amount in the last quarter of 2012, the official INSEE statistics office said Wednesday.

A recession corresponds to a drop in growth over two quarters.

The French finance ministry said that it still expected a tiny expansion of 0.1 per cent for 2013 however.

INSEE also revised lower the fall in purchasing power for French households in 2012 to 0.9 per cent instead of a 0.4 per cent fall forecast in March.

French growth has been sluggish, hit by record unemployment and falling household demand, the key driver of the economy.

- © AFP, 2013

Read: 3,000 tonnes of fodder from France to help farmers in ‘crisis’
Read: “My head just exploded”- Irish director’s film chosen for Cannes
Read: France approves same-sex marriage and adoption

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article.

Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

For the price of one cup of coffee each week you can make sure we can keep reliable, meaningful news open to everyone regardless of their ability to pay.

About the author:

AFP

Read next:

COMMENTS (19)