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France’s economy to contract again

in International Business

France’s economy to contract again

The Bank of France has predicted the country’s economy to fall back into recession this quarter, as the economy showed zero growth in the first quarter of the year.

The economy is estimated to shrink by 0.1% in July to September.

France’s economy, one of the major economies of the Eurozone, has been hit by the crisis in the Euro nations, weakening the demand for France’s exports.

The massive debt issues of fellow nations, such as Greece, Spain and Portugal, have also bashed France’s consumer and business confidence.

France saw its last economic growth in the spring of 2009.

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