French Growth Forecasts 'Slightly Lower' Than Planned
Friday 21 March 2008 By AFP
The French economy is likely to suffer a modest slowdown in the first half of the year in the face of a global financial crisis and inflation of around 3.0 percent, the nationmal statistics agency said Friday.
The agency, known as INSEE, forecast momentum of 0.4 percent in the first quarter and 0.3 percent in the second.
The Paris-based Organisation for Economic Cooperation and Development on Thursday predicted growth of 0.4 percent in the first and second quarters of 2008.
INSEE said that to achieve an overall expansion of 2.0 percent this year, the government target, the French economy would have to grow 0.8 percent in the third and fourth quarters.
But analysts caution that such a pace might prove unrealistic given the constraints on the world economy and a global credit crunch brought on by a sharp downturn in the US housing market.
for the entire story, go to http://www.france24.com/en/20080321-french-growth-forecasts-lower-planned-france-economy-insee-oecd
The French economy is likely to suffer a modest slowdown in the first half of the year in the face of a global financial crisis and inflation of around 3.0 percent, the nationmal statistics agency said Friday.
The agency, known as INSEE, forecast momentum of 0.4 percent in the first quarter and 0.3 percent in the second.
The Paris-based Organisation for Economic Cooperation and Development on Thursday predicted growth of 0.4 percent in the first and second quarters of 2008.
INSEE said that to achieve an overall expansion of 2.0 percent this year, the government target, the French economy would have to grow 0.8 percent in the third and fourth quarters.
But analysts caution that such a pace might prove unrealistic given the constraints on the world economy and a global credit crunch brought on by a sharp downturn in the US housing market.
for the entire story, go to http://www.france24.com/en/20080321-french-growth-forecasts-lower-planned-france-economy-insee-oecd
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