France slid into recession during Q1 as the French economy contracts 0.2% Q/Q after shrinking by...
May 15 2013, 04:37 ET
France slid into recession during Q1 as the French economy contracts 0.2% Q/Q after shrinking by the same amount in Q4. With unemployment at record levels and President François Hollande's popularity at all-time lows, the country faces an uphill battle to right the ship as it struggles to bring its deficit in line with the EU-mandated 3%, while simultaneously restoring growth. Economists see the French economy contracting by 0.2% for the full year and a survey of French citizens shows just 11% believe Hollande can bring down the jobless rate by year's end. The CAC 40 (EWQ) is little changed.