France posts zero economic growth in first quarter

As expected, at least in this corner, things are going downhill rapidly in France.  The French central bank is now predicting recession for France. Bear in mind Europe tends to use a pretty strict definition of recession - two consecutive quarters of negative GDP.

France's economy expanded by 1.0 percent in the first quarter, the strongest growth since the second quarter of 2006, the national statistics institute INSEE said Friday.At the same time, INSEE revised annual economic growth in 2010 down from 1.5 percent to 1.4 percent due to slower growth during the fourth quarter of last year, which was revised down from 0.4 percent to 0.3 percent.French Economy Minister Christine Lagarde released the growth figure for the first three months of 2011 on Thursday in an interview with AFP.

Inquiring minds investigating the collapse in Europe note Euro-Zone Industrial Production Declines Steeply Industrial production in the 17 countries that use the euro fell sharply in September as weak output across both the core and peripheral economies added to expectations for a poor third quarter gross domestic product print Thursday.

France’s economy is projected to grow by just 0.4 percent in 2012, the National Institute of Statistics and Economic Studies (INSEE) reported on Tuesday, falling shy of the government’s previous forecast of 0.5 percent.

The Bank of France said on Wednesday it had lifted its fourth-quarter projection for French economic growth to 0.6 percent from 0.5 percent forecast last month.French gross domestic product expanded by 0.4 percent in the third quarter, 0.7 percent in the second and 0.2 percent in the first.The national statistics institute INSEE has forecast a 0.4-percent expansion in the final three months of the year, which would take annual growth in 2010 to 1.6 percent. The official government forecast is 1.5 percent this year.

The French economy grew less than first thought in the third quarter at a revised 0.3 percent, down from the initial estimate of 0.4 percent, the national statistics institute INSEE said Friday.INSEE said the downward revision reflected lower industrial output and the inclusion of final sales figures.On the basis of the third quarter performance, the French economy should grow 1.7 percent growth for the year, in line with the government target of 1.75 percent.

ATHENS, Greece — France’s economy, Europe’s second-biggest, will grow by less than previously thought in 2013, President Francois Hollande confirmed Tuesday. While on a six-hour visit to Greece, Hollande said “everyone knows that for 2013, we will not reach our target, which was 0.8 percent.” He said a new growth target will be announced by the end of next month. France is waiting for the European Commission, the European Union’s executive arm, to release its economic forecasts for the 27-country EU on Friday. (MORE: Bold New Rule: Students in the U.K.

ATHENS, Greece — France’s economy, Europe’s second-biggest, will grow by less than previously thought in 2013, President Francois Hollande confirmed Tuesday. While on a six-hour visit to Greece, Hollande said “everyone knows that for 2013, we will not reach our target, which was 0.8 percent.” He said a new growth target will be announced by the end of next month. France is waiting for the European Commission, the European Union’s executive arm, to release its economic forecasts for the 27-country EU on Friday. (MORE: Bold New Rule: Students in the U.K.