Although the strain on France’s economy remains severe, the
country resisted recession during the first economic quarter of 2013. The rate
of growth remains extremely low and did not increase. This signifies that
France has avoided recession multiple times since 2008-2009. Despite avoiding
deeper economic troubles, France’s industries were reportedly weak in the first
months of 2013. Difficulties facing the companies, in part, are due to the lack
of interest shown by foreign nations in terms of demand. Coinciding with this,
France’s imports and exports have lowered in number recently – marking the deterioration
of the country’s top ranking in international power and business. First quarter
growth is marginally less than President Francois Hollande projected. The
national unemployment rate remains at a peak – 10.6%.
Because
France represents one of the top economies in Europe – and a global power – their
economic troubles have that much more of an impact. The lack of demand for
French products by other countries negatively affects international business –
for France in particular. Optimistically, it has only been a few years of
economic turmoil for France (and Europe in general), and there is always time
for progress. President Hollande has been in office for several years now, and
the economy has not shown growth that he promised and predicted. It is likely
that France will choose a president who contradicts Hollande in the next
election.
Article:
"France May Have Dodged Recession." -
International. N.p., n.d. Web. 09 Apr. 2013.
Image:
http://www.france24.com/en/20120808-banque-de-france-recession-financial-outlook-third-quarter
"France Heading Back towards Recession." FRANCE 24. N.p., n.d. Web. 09 Apr. 2013.
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