France Likely to Slip Into Recession in 2013: Economist

The euro zone core nation of France will find itself in recession next year despite currently enjoying robust export numbers, according to Jennifer McKeown, European economist at Capital Economics.

“We still see both Germany and France slipping into recession in 2013,” she wrote in a research note.

This is due to export numbers that they believe will decline, despite getting better in the short term, as demand from the U.S. and Asia falls away.

“While exports to elsewhere in the EU have fallen, German exports to the U.S. rose by roughly 15 percent in the year to (the second quarter). France posted an even stronger annual increase of about 20 percent,” McKeown said.

On the whole, France have had a 0.2 percent rise in exports which leaves the annual growth rate for exports at 3.9 percent, which the research company says is strong compared with previous releases.

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- Posted: 2012-08-20 11:58:13

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