The French economy is likely to grow in the second half of this year, Finance Minister Pierre Moscovici said in an interview with RTL radio, after official data showed that the nation entered a recession in the first quarter.
Moscovici said he is confident that the unemployment will drop by the end of 2013.
Data from the statistical office Insee showed on Wednesday that the French economy slipped into a recession at the start of the year amid flagging investment and exports. Gross domestic product fell 0.2 percent in the first quarter, after a 0.2 percent contraction in the fourth quarter of 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.