Tuesday, April 10, 2012
Sacre Bleu! French economy grinds to a halt
Think the US economy is iffy? Reuters reports that France's economy posted no growth in the first quarter and there are no signs of a strong recovery in activity in the coming months, according to a Bank of France survey on Tuesday.
In its monthly report, the Bank of France indicated that the euro zone's second largest economy avoided a recession, after it grew by 0.2 percent in the fourth quarter.
However, it said that activity was likely to remain stable in the coming months, a picture confirmed by soft manufacturing data on Tuesday from the INSEE national statistics office.
The Bank of France said that its business sentiment indicator for industry was unchanged in March at 95, a 3-month low it reached in February. It noted that industrial activity improved, with rises in pharmaceuticals and chemicals, transport equipment and hi-tech goods. "Forecasts suggest that activity will remain stable in the short term," the bank said...
Find out more at http://uk.reuters.com/article/2012/04/10/uk-france-economy-bof-idUKBRE8390D120120410?feedType=nl&feedName=ukdailyinvestor