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France Heading into Another Recession?
France's central bank says the country will probably fall back into its second economic recession in three years by the end of the current quarter.
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France's central bank says the country will probably fall back into its second economic recession in three years by the end of the current quarter.
The Bank of France says it expects the country's gross domestic product, which shrank 0.1% in the second quarter, to decline by the same amount in the third quarter thus defining a recession.
The central bank notes that industrial confidence in France has slumped to its lowest level in three years, largely because of worries about domestic carmakers PSA Peugeot Citroen and Renault SA.
The French government reiterates its downwardly adjusted July forecast that the country's GDP will expand by 0.3% this year and 1.2% in 2013.
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