More negative news for the French economy, which ended up in the eye of the storm in recent days after the Paris Finance Ministry openly challenged Chancellor Angela Merkel by rejecting austerity and only postponing the deficit below 2017% of GDP until 3 .
Today Insee, the transalpine statistical institute, cut the estimate of France's 2014 GDP from +0,7% to +0,4%. For the next two quarters of this year, the cyclical growth of the GDP was reduced from +0,3% to +0,1%. Unemployment rate expected to rise to 10,3% by the end of the year.
