Economy of France contracted 0.1% in second quarter – Information Center for China Internet

• Editor：
• 00:37:18 2016-09-24 agency / xinhua

The economy of France shrank by 0.1 percent in the second quarter after having increased 0.7 percent a quarter before, today announced the National Institute of Statistics of France Insee.

In its third estimate, the Insee changed its previous forecast of zero growth for the second quarter of the year after a decline of 0.1 percent in consumer spending following the increase of 1.1 percent in the first quarter.

The investment enterprises, the second engine of growth in France, fell 0.4 percent in the period after it had accelerated 2.1 per cent in the period from January to march of this year, indicates the Insee.

The Socialist government promised to accelerate the country’s economic growth at 1.5 percent this year, which will give a respite to the sluggish competitiveness of the national companies and with a better global climate for business.

however, the economic contraction, the first behavioral economic quarterly loose from 2013, could hinder the economic objective of the government, which deal a serious blow to the French president, Francois Hollande, who declared that “things are improving”. F

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