RSS Feed
December 26th, 2013 
FAKE NEWS for the Zionist agenda The French economy has contracted during the third quarter of the year following weak exports and poor investment, official figures confirm.
The French national statistics bureau (INSEE) said on Tuesday that France’s gross domestic product (GDP) shrank 0.1 percent in the July-to-September period.
One of the contributing factors to the negative growth was a decline in French exports, which fell by 1.3 percent while imports grew by 0.9 percent, INSEE stated.
In addition, investment in the eurozone’s second largest economy also dropped by 0.4 percent
The plunge came after a 0.6-percent growth in the French economy in the second quarter pulled its economy out of recession.
This is while France is struggling with a worsened economy as it has barely grown in more than two years.
In November, Standard and Poor’s (S&P) rating agency downgraded France’s credit rating from AA+ to just AA, saying the government’s economic reforms would not significantly raise growth.
President Francois Hollande’s government has imposed 30 billion euros (USD 40.46 billion) in tax hikes this year in a bid to bring its budget deficit below EU target of 3 percent next year.
The government’s economic policies have angered the French citizens, as a poll published last month by IFOP showed 91 percent of French people want Hollande to change his policies and his performance.
Furthermore, the country’s unemployment rate reached a 16-year record high in the third quarter of this year, with nearly 11 percent of French people out of work.
France is one of a few rich-world economies with a double-digit unemployment rate.
CAH/SS
Source Article from http://www.presstv.ir/detail/2013/12/25/341936/french-economy-shrinks-in-3rd-quarter/
Views: 0
Posted in 
