France Is Going Out Weak

Francois Hollande

Photo: John Gress/Getty Images

And it’s a weak end of the year for France, economy-speaking.From The Guardian:

New GDP data released this morning showed that its economy barely grew in the third quarter of 2012. GDP increased by a paltry 0.1%, not the +0.2% first estimated.

The revision means France economy failed to post any growth at all over the last 12 months, and reinforces the fact that the eurozone itself is in a double-dip recession (as covered here last month).

Weak business investment is reportedly one main culprit.

While most world markets are flat today, France’s CAC-40 is the big laggard, down 0.58%.

The “smart” people have been hating on the French economy for a long time, and headlines about rich people leaving thanks to Hollande’s taxes have only fuelled their dislike and their belief that something is fundamentally wrong. Watching to see if France can pick up in 2013 will be a big subplot for next year.

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