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Global Macro-Market Outlook

France Outlook Update: Returning to Recession

By Mark Willis
Oct 31, 2011 4:00:00 PM | Last Updated

  • As the eurozone crisis continues to weigh on the external sector and domestic demand, the French economy will return to recession at the turn of 2011/12, with economic activity forecast to contract in both Q4 2011 and Q1 2012.
  • On the back of worsening consumer sentiment, stubbornly high unemployment and the need for increased fiscal austerity in 2012, we expect private consumption growth to remain significantly below its prerecession trend over the forecast horizon.
  • Due to the worsening economic outlook, continued structural weaknesses and the rising possibility of fiscal slippage,[...]

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