(MENAFN- Saudi Press Agency) The French economy was expected to have slipped into
recession during the second half of the year, dpa quoted the country's central
bank as saying Friday.
The Bank of France has forecast a contraction of 0.1 per cent in
the fourth quarter. If confirmed, it would be the second consecutive
quarter of negative growth, meeting the requirements of the technical
definition of a recession.
The bank has already predicted a 0.1-per-cent dip in the third
quarter.
France had posted zero growth in the previous three quarters.
The central bank's forecast diverges from that of the government,
which expects growth of 0.3 per cent this year and 0.8 per cent in
2013.
The European Commission, by contrast, expects the economy to grow
at half that pace - at 0.2 per cent in 2012 and 0.4 per cent in 2013.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.