Saturday, April 19, 2014   

French economy shrinks
(12-24 16:48)

The French economy contracted 0.1 percent in the third quarter of 2013, the statistics body INSEE confirmed Tuesday, but it is expected to post 0.4-percent growth for the fourth quarter.
GDP growth in the second quarter was slightly above the forecast, at 0.6 percent instead of 0.5 percent.
The INSEE growth forecast for the fourth quarter, first announced last week, wards off the threat of a double dip recession in the euro zone's second economy.
INSEE predicted growth of 0.2 percent for the whole of 2013.—AFP

   
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