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French economy sees zero growth in Q2


February 16. 2013 4:12PM
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(AP) France's government says the economy saw zero growth in the second quarter, amid worries that Europe's No. 2 economy is hovering on the edge of a new recession.


The Insee statistics agency released preliminary estimates Tuesday in line with its earlier forecast of zero growth for gross domestic product in the quarter. It's the third straight quarter without growth.


The central bank and analysts had forecast a 0.1 percent contraction for the quarter.


France has so far avoided a new recession even as other European economies succumbed amid the continent's debt crisis.


Insee also showed that consumer spending shrank and imports grew more than exports.


Associated Press


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