Economy

xchrom

(108,903 posts)

13. France avoids recession

Thu Nov 15, 2012, 08:04 AM

Nov 2012

http://www.irishtimes.com/newspaper/breaking/2012/1115/breaking8.html

France's economy narrowly avoided recession, growing slightly in the third quarter, official statistics said today.

The French economy has not recorded growth since the third quarter of last year and had been widely expected to start its slide into recession in the third quarter — technically defined as two consecutive quarters of negative gross domestic product.

Instead, Insee, the national statistics agency, said GDP rose 0.2 per cent on an annual basis in the July-to-September period.

But the agency also revised down figures for the second quarter, saying the economy shrank 0.1 per cent. It had previously said growth was stagnant, as it had been for the previous two quarters.

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