France cuts outlook on quarterly contraction

The Economics Ministry in France expects the French economy to contract by 3% in 2009, double its previous forecast, bringing it in line with those of the International Monetary Fund and the Organisation for Economic Co-operation and Development.

France may be doing better than most other large economies but the mood was glum in May 2009 after official figures confirmed that the economy had shrunk at its fastest yearly pace since records began in 1949.

France24, 15.5.09: France enters recession as EU slides deeper into economic gloom http://www.france24.com/en/20090515-france-enters-recession-eu-slides-deeper-economic-gloom-

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