BUSINESS French economy shrinks in first quarter

BUSINESS

French economy shrinks in first quarter

AFP

15:07, May 31, 2022

File photo: CGTN

France's economy shrank in the first quarter as households spent even less than previously thought due to rising inflation, the statistics agency said Tuesday, lowering an initial estimate of zero growth.

The economy contracted by 0.2 percent in the first three months of the year while household spending fell by 1.9 percent, according to INSEE.

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