Tag: France

German exports lower than expected in July

German exports lower than expected in July

Statistics office Destatis has today revealed German exports and imports fell in July – more than expected. According to Destatis, exports fell by 1.8% in July on a monthly basis compared with a 1.2% drop in June. Economists had forecast a 0.1% fall for the month. The sharp fall in exports will be of grave [...]

September 8, 2011 | 0 Comments More
Merkel and Sarkozy aim to restore confidence

Merkel and Sarkozy aim to restore confidence

French President Nicolas Sarkozy and German Chancellor Angela Merkel have pledged to put an end to the debt crisis and restore confidence in the euro. The two leaders of the euro zone’s largest economies last night called for “true economic governance” for the region and wants bi-annual meetings of the 17 leaders of the euro [...]

August 17, 2011 | 0 Comments More
French economic growth at zero in Q2

French economic growth at zero in Q2

France’s economic growth showed a reading of zero in the April to June quarter, compared with 0.9% in the previous three months, according to Insee, the national statistical agency. The reading was short of forecasts of a 0.3% rise for the quarter. The lack of growth was attributed to a fall in household consumption, which [...]

August 12, 2011 | 0 Comments More
Germany and France reach agreement on second Greek bailout

Germany and France reach agreement on second Greek bailout

Late night talks between German Chancellor Angela Merkel and French President Nicolas Sarkozy have led to a common position on a second bailout for Greece. After seven hours of talks in Berlin, sources said both parties had also discussed their efforts to prevent the debt crisis spreading through the rest of Europe. However, full details [...]

July 21, 2011 | 0 Comments More
Francois Baroin to replace Lagarde as finance minister

Francois Baroin to replace Lagarde as finance minister

It has been confirmed that 46-year-old Francois Baroin will take over from Christine Lagarde as France’s finance minister. French President Nicolas Sarkozy confirmed the appointment yesterday. The announcement comes after Ms Lagarde became the managing director of the International Monetary Fund (IMF) – the first ever woman in the role. Ms Lagarde replaced Dominique Strauss-Kahn [...]

June 30, 2011 | 0 Comments More
Euro zone nations reveal Q1 economic growth

Euro zone nations reveal Q1 economic growth

The euro zone’s largest economy, Germany, grew by 1.5% in the January to March period – much better than forecast, according to Destatis today. On an annual basis, growth jumped 5.2% - the largest increase since reunification in 1990. Export demand helped to bring Germany out of recession in the second quarter of 2009 – [...]

May 13, 2011 | 0 Comments More
German economy continues to drive euro zone recovery

German economy continues to drive euro zone recovery

Germany’s Economy Minister Rainer Bruederle has today said the economy will perform better than expected in 2011. According to the minister, the economy is predicted to grow by 2.6% this year - better than a previous estimate of 2.3% in January. However, growth will ease slightly in 2012, slowing to 1.8%, said Mr Bruederle. The [...]

April 14, 2011 | 0 Comments More
France revises 2012 growth forecast

France revises 2012 growth forecast

France’s Economy Minister Christine Lagarde has said the economy will expand 2.25% in 2012, revised down from a previous estimate of 2.5%. The revision was based on the fact that global demand for French goods is likely to weaken. In an interview with Les Echos reported, the minister said: “Our forecast for two percent growth [...]

April 14, 2011 | 0 Comments More
France and Germany report Q4 figures

France and Germany report Q4 figures

Europe’s largest economy, Germany, looks set to be continuing its strong recovery after Federal Statistical Office, Destatis, reported the economy grew by 0.4% in the fourth quarter. For the 2010 year, the economy expanded by 3.6%, said Destatis. However, both figures were slightly below forecasts with economists expecting quarterly growth of 0.5% and annual growth [...]

February 15, 2011 | 0 Comments More
Revenue up at easyJet despite snowfall

Revenue up at easyJet despite snowfall

Budget airline easyJet has today said it was hit by the severe wintry weather in Europe last month and was hit by costs of £31 million, which also included strike action by French air traffic controllers. However, taking this into account, the airline said revenue in its first quarter (the final three months of 2010) [...]

January 20, 2011 | 0 Comments More
Euro zone Q3 growth slows

Euro zone Q3 growth slows

The European Union’s statistics office, Eurostat, has today revealed growth in the 16 countries that use the euro slowed in the third quarter. According to Eurostat, the euro zone grew 0.4% in the July to September period, compared with 1% in the second quarter. On an annual basis, growth was recorded at 1.9%. It follows [...]

November 12, 2010 | 0 Comments More
Italian growth slows in Q3

Italian growth slows in Q3

Official figures today showed Italian economic growth slowed in the July to September period. Italy’s statistics office, Istat, said the economy expanded by 0.2% in the third quarter, slowing from the 0.5% growth recorded in the second quarter. The growth rate was half the 0.4% expected by analysts. On an annual basis, meanwhile, the economy [...]

November 12, 2010 | 0 Comments More
Germany and France see slowdown in Q3

Germany and France see slowdown in Q3

Germany, which is Europe’s largest economy, saw a slowdown in quarter three economic growth after a record second quarter. German statistics office, Destatis, said the economy grew 0.7% in the July to September period - compared with the record expansion of 2.3% in the April to June quarter - which represented the fastest since German [...]

November 12, 2010 | 0 Comments More
Fears for French economy as strikes cost millions

Fears for French economy as strikes cost millions

The French Government has today warned that strikes against pension cuts are costing the economy between €200 and €400 million per day. Ongoing protests and strikes against the Government’s changes to pensions have resulted in fuel shortages and travel chaos throughout the nation. France’s Finance Minister, Christine Lagarde, said: “Today, we shouldn’t be weighing down [...]

October 25, 2010 | 0 Comments More
France lowers economic growth forecast

France lowers economic growth forecast

The euro zone’s second largest economy has lowered its economic growth forecast following a meeting between the President Sarkozy and senior finance ministers. The French President requested that ministers interrupt their summer holidays to discuss how France is going to tackle its deficit. Following the meeting, a statement said the economy will expand by 2% [...]

August 22, 2010 | 0 Comments More
French economy sees 0.6% growth in Q2

French economy sees 0.6% growth in Q2

Paris-based statistics office INSEE has today announced economic growth in France grew by 0.6% in the April to June period. The figures were higher than the 0.4% expected by analysts. In addition, first quarter growth was revised upwards from 0.1% to 0.2%, said INSEE. France’s economy has now grown for five consecutive quarters after the [...]

August 13, 2010 | 0 Comments More
France’s public debt soars to 80% of GDP

France’s public debt soars to 80% of GDP

Further concerns for euro zone debt was raised today after the national statistics bureau INSEE said France’s public debt rose to 80.3% of national output in the first quarter of the year. EU rules state that debt should not exceed 60% of GDP. According to INSEE, at the end of March, French gross public debt [...]

June 30, 2010 | 0 Comments More
France reveals overhaul to pensions system

France reveals overhaul to pensions system

The French Government has announced the country’s retirement age will be lifted from 60 to 62 by 2018, as part of a sweeping overhaul to its pension system. The new measures are to be implemented to cut France’s pension costs and reduce public borrowing. However, the shake-up has met with public anger after tens of [...]

June 16, 2010 | 0 Comments More
Euro zone economy grows just 0.1% in Q4

Euro zone economy grows just 0.1% in Q4

Official figures have revealed the euro zone economy grew just 0.1% in the final three months of 2009, suggesting the economic recovery is faltering. The news came after poor GDP figures from the euro zone’s largest economies. Germany, which is the euro zone‘s largest economy, said GDP remained flat in the three month period, with [...]

February 14, 2010 | 0 Comments More
Italy’s recovery in doubt as economy contracts in Q4

Italy’s recovery in doubt as economy contracts in Q4

The euro zone’s woes appear to be far from over today after the area’s third largest economy, Italy, unexpectedly contracted by 0.2% in the final three months of 2009, causing concern over its economic recovery. The news comes shortly after Germany, which is the euro zone‘s largest economy, said GDP remained flat in the three [...]

February 12, 2010 | 0 Comments More