France slips into double-dip recession

05/15/2013 | France 24 · EuroNews.net (France)

French gross domestic product contracted 0.2% in the first quarter on the heels of a similar decline the previous quarter, sending the nation into a double-dip recession, the nation's statistics agency said. Falling household spending, a cutback in investment and weak exports contributed to the downturn. The news came as the eurozone entered its sixth consecutive quarter in recession, its longest downturn since records were first kept in 1995.

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France 24 · EuroNews.net (France)

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