The French economy posted zero growth in the second quarter, according to first estimates released today from Insee, prompting the French government to abandon its deficit target for this year.
The gross domestic product (GDP) between April and June was equal to the first quarter, below the average estimate of economists contacted by Bloomberg, which showed an increase of 0.1%.
For the whole year, France accumulated a growth of 0.3%.
The GDP data prompted the French government to recognize that France will not meet its objectives for growth and deficit this year, today marked the Minister of Finance, Michel Sapin, a column published in Le Monde.
The minister said that the growth of the French economy at the end of the year will be “in the order of 0.5%” against a target of 1%, adding that in 2015 or wait a given “far superior to 1%. ”
The French public deficit will be “more than 4%” of GDP this year, against a forecast of 3.8%, said Sapin.
This data eventually be reflected in the opening of the European markets, which began in the fall session.
A few minutes after the opening of markets, the Euro Stoxx 50 index, which represents the leading companies in the euro zone, losing 0.43%.
The Paris stock exchange (CAC 40) retreated 0.41%, the Frankfurt slid (DAX) lost 0.30%, Madrid (IBEX 35) followed in line with their counterparts and devalued 0, 29%, the same happening to Milan (FTSE MIB), which slid 0.74%.
The London square (FTSE 100) followed near the water line, the back light 0.06%.
The Lisbon stock market opened lower, with the PSI 20 index of Lisbon’s main square, falling 0.12% to 5445.05 points, but shortly thereafter went into a counter with Europe and went on to win slight 0.14%.
Today the National Statistics Institute (INE) publishes the first quick estimate of the Portuguese GDP in the second quarter.
* Article written under the new orthographic agreement applied by the agency Lusa
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