French economy showed no growth in the second quarter, confounding analysts’ expectations, after the “stalled” in the first, as shown by the National Bureau of Statistics Insee.
These indicators suggest that the French economy is unlikely to add 1% for 2014.
“This means that the growth rate for this year will be 0.5%, but even for this, we need to restore in the third and fourth quarters,” – says Philip Vehter, Head of Economic Research Natixis Asset Management.
Analysts polled by Reuters, predicted economic growth rate of 0.1% for the three months to June.
French consumers were more optimistic, as consumer spending rose by 0.5%, after the first quarter decreased by the same 0.5%.
Manufacture of industrial products in the second quarter decreased by 1%, while in the first of his volumes were up 0.8%.