Banque de France predicts output contraction in Q3


The Banque de France today (August 8) published the results of its latest Survey on Industry and Services, which showed French businesses expected growth to contract in the third quarter of 2012 by 0.1%.

The results were the first prediction for the third quarter, but followed similar results for the second quarter, meaning the country would officially enter recession if confirmed. In May, businesses revised down their estimates of second-quarter growth to –0.1% from previous 0%. The latest

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