Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  February 14, 2013 10:15:05

France - 4Q GDP fell by 0.3%. things than expected


French GDP in Q4 of last year, according to preliminary figures recorded a decrease of 0.3% compared to a growth of 0.1% in Q3 compared with forecasts and market set to drop by 0.2%.
Compared GDP fell by 0.3%.

The French economy, like the entire euro zone faces especially with the decline of EU demand and expressions of uncertainty about the future direction of the European debt crisis. An important motive problems are the automotive industry, which is struggling with a significant drop in sales and the prospect of large-scale redundancies. Unlike Germany French economy seem essentially no signs of recovery. The share of French exports to the Union the sum in this respect in 2011 decreased to 9.3% compared to 12.7% in 2000. The share of the total EU production in this respect, decreased in the same period, from 18 to 12.5%.The unemployment rate is at 15-year high, which is falling for 15 months in a row, a job is about 3 million people. Foreign trade deficit last year was the second highest in the country's history. Finance Minister Moscovici said yesterday that the government will reduce GDP growth estimates for this year and will probably have problems with meeting the targets in reducing the budget deficit to 3% of GDP, compared to 4.5% last year.

Related news:
Germany - 4Q GDP fell more than expected
CR - 4Q12 GDP fell by 1.7%
Japan in recession, USD / JPY at an important point
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