Don't miss

Replay


LATEST SHOWS

BUSINESS DAILY

Greek shares plunge as trading resumes in Athens

Read more

IN THE PAPERS

'Gulf countries need proof and guarantees'

Read more

IN THE PAPERS

'The deadly French-English border'

Read more

EYE ON AFRICA

Experimental Ebola vaccine could stop virus in West Africa

Read more

MEDIAWATCH

#CecilTheLion : Hunter Becomes The Hunted

Read more

THE WORLD THIS WEEK

Erdogan’s gamble: Turkey launches offensives on PKK and Islamic State Group (part 2)

Read more

THE WORLD THIS WEEK

Europe’s shame: Calais migrant crisis deepens (part 1)

Read more

FRANCE IN FOCUS

The River Seine, the lifeblood of the French capital

Read more

FOCUS

Remote learning brings hope to Brazil’s rural poor

Read more

France

French growth to stagnate for second consecutive quarter

Text by News Wires

Latest update : 2012-05-10

The French economy will post zero growth in the second quarter of 2012, its second consecutive quarter of stagnation, the Bank of France predicted on Thursday. The French economy grew by 1.7% in 2011, with growth slowing to 0.2% in the last quarter.

AFP - The Bank of France on Thursday forecast zero growth in the French economy for the second quarter of 2012 -- the second quarter in a row of stagnation.

France's gross domestic product should remain "stable" in the second quarter compared to the first quarter, which also saw zero growth, the central bank said in statement.

The French economy grew by only 1.7 percent last year and growth slowed to just 0.2 percent in the last quarter, mirroring stagnant output in the eurozone as a whole.

In January, the government was forced to halve its 2012 growth forecast from 1.0 to 0.5 percent, while the International Monetary Fund predicts a still more pessimistic 0.2 to 0.5 percent.

France's moribund economy was a key factor in Socialist Francois Hollande's win over outgoing President Nicolas Sarkozy in Sunday's French presidential election.

 

Date created : 2012-05-10

  • FRANCE

    French economy edges up as Italy slips into recession

    Read more

  • FRENCH ELECTIONS 2012

    Hollande calls limiting economic immigration 'essential'

    Read more

  • ECONOMY

    French trade deficit hit record €69.6 billion in 2011

    Read more

COMMENT(S)