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Banque de France confirms economic recession

de Radu Rizea
Marţi, 14 octombrie 2008, 12:24 English | Regional Europe

The gross domestic product of France decreased 0.1% in the third quarter of the year, estimations at the French Central Bank suggest, confirming the fact that the second largest economy in the Euro zone is in recession, AFP informs. France already saw a 0.3% decrease in the Q2 GDP.

Technically, the state o recession is declared after two consecutive quarters with negative growth. The situation in France is unprecedented since 1993.

The National Statistics Institute in Paris announced the recession at the beginning of the October.

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