French in recessio

New figures analysed by Northampton accountants Harris & Co show that the French economy has entered recession after shrinking by 0.2% in the first quarter of the year.

France"s economy shrank by the same amount in the last quarter of 2012. A recession is defined as two consecutive quarters of negative growth.

France has record unemployment and low business and consumer confidence.

German growth figures have also been released, showing its economy, the strongest in the eurozone, grew by just 0.1% in the first quarter of the year