France ‘to enter recession’ as eurozone growth slows

The eurozone economy will shrink more than expected on 2013 with France sliding into recession, according to a gloomy European Commission report published on 2 May 2013.

The Commission Spring 2013 Economic Forecast said that euro-area growth will shrink by 0.4% this year, down from 0.3% forecast in February 2013. France will go into recession this year with negative growth of 0.1% and unemployment rising to 10.9% in 2014 from 10.6% in 2013.

• Primary Source

European Commision: DG Economic and Financial Affairs: EU Economic Situation: Economic Forecasts: Spring forecast 2013 - The EU economy: adjustment continues http://ec.europa.eu/economy_finance/eu/forecasts/2013_spring_forecast_en.htm

European Commision, 03.05.13: France: Weak growth, high headline deficits http://ec.europa.eu/economy_finance/eu/forecasts/2013_spring/fr_en.pdf

France 24, 03.05.13: EU forecasts 2013 French slide into recession http://www.france24.com/en/20130503-european-union-commission-forecasts-2013-france-slide-recession

EUObserver, 03.05.13: 'Over optimistic' France needs two more years to correct deficit http://euobserver.com/economic/120031

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