25 Dec 2013

France to avoid double-dip recession

1:30 pm on 25 December 2013

France will avoid a recession this year, according to the country's statistics body.

INSEE said the economy will grow 0.4% in the last three months of the year, after contracting 0.1% in the third quarter. It body predicted growth of 0.2% for the whole of 2013.

President Francois Hollande has been under pressure to revive the economy as other eurozone nations start growing and show signs of recovery, the BBC reports.

The country was last in recession in the first quarter of this year. There were fears of a "double-dip" recession but the country's statistics agency thinks this will now be avoided.