- July 29, 2022
- Posted by: Stratford Team
- Category: Economy
Introduction: France returns to growth on eurozone GDP day
Good morning, and welcome to our rolling coverage of business, the world economy and the financial markets.
Today we discover how the eurozone economy fared in the first full quarter since the Ukraine war drove up energy prices and disrupted supply chains, slowing global growth.
And the breaking news is that France has avoided recession, by returning to growth in April-June as stronger exports helped offset weak domestic demand.
French GDP rose by 0.5% in Q2, figures just released show, having shrunk by 0.2% in January-March as rising inflation hit the eurozone’s second-largest economy.
That’s stronger than expected, and means France has avoided two quarters of falling growth in a row.
France’s statistics body INSEE says “GDP in volume terms strongly recovered after the decline in the previous quarter”.
Foreign trade lifted growth, with exports rising 0.8% and imports falling by 0.6%.
But…
