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| Europe |
| French economy shrinks |
| 2003-04-29 |
The French economy was shrinking in the last three months of 2002, new figures show. Previous estimates of slight growth have proved over-optimistic, with the latest statistics showing the economy contracted by 0.1% during the three month period. The bad news about the state of the French economy, the second largest in the eurozone, coincides with equally gloomy data about business morale. French business sentiment slumped for the second consecutive month in April as the Iraq war hit confidence, according to official figures. FRENCH ECONOMIC GROWTHBusinesses have also been unsettled by publicity campaigns urging US consumers to boycott French products, including high-profile exports like wine and cheese. |
| Posted by:George |
| #5 Heh. the article says that, despite the 2002 trend, that growth will STILL be about 1.2%. Must be some damn good weed they're smoking over there. |
| Posted by: Ptah 2003-04-29 13:54:35 |
| #4 How dare those French not bend to the will of the "American street"? You'd think they were acting in their own self-interests! And why do they even evaluate their economy on a unilateral basis? |
| Posted by: Tom 2003-04-29 13:45:46 |
| #3 In an effort to counter this economic downturn, French unions went on strike to promote a 20 hour work week with 52 paid holidays a year. Victory in the Ivory Coast Day is expected to be a popular addition. |
| Posted by: Chuck 2003-04-29 10:44:43 |
| #2 "... publicity campaigns urging US consumers to boycott French products." Hmmm. Haven't seen any. Totally grass-roots actions, as far as I can tell. Which means the French have pissed off the "american street" and are REALLY screwed... |
| Posted by: mojo 2003-04-29 09:38:33 |
| #1 BBC, there is a call on line one from Cause and Effect. Tell them we're out to lunch. OK. |
| Posted by: Dick Saucer 2003-04-29 06:53:34 |