- Bill Clinton's allies finally speak out on Lewinksy affair
- Sarkozy outlines platform for second prez election bid
- Facebook graffiti artist says 'he was offered sex every day in return for $2mln'
- U.S. official calls for end of violence in Maldives
- Murdoch to decide The Sun's future following 5 more journalists' arrest over alleged corruption
- Pak army tries five officers over 'links' with banned outfit Hizbut Tahrir
France may go into recession this year
Paris, Oct 3 (DPA) After shrinking by 0.3 cent in the second quarter of this year, France's economy will continue to contract for the next two quarters, plunging the country into a recession, the government's statistical office Insee said Friday.
According to the forecast, France's GDP is to contract by 0.1 percent in each of the next two quarters. A recession is defined by two consecutive quarters of negative growth.
'If the financial turbulence does not get worse,' GDP growth for 2008 will be 0.9 percent, Insee said in a statement. The French economy grew by 2.1 percent last year and by 2.4 percent in 2006.
As a result, unemployment in France will climb to 7.4 percent by the end of the year, from the current 7.2 percent, Insee said.
France confers 'More Human World Award' on Benazir.
Popping the cork may soon be history in France!.
Pink wine scores above white, red wine in France.
Sarkozy turning France into monocracy, say opposition Socialist party.
Social security agreement between India and France.
|
|
|
|
|
|
Comments: