France economy News

French President Francois Hollande Monday pledged to redefine France's business model and declared what he called "a state of economic and social emergency," unveiling a 2-billion-euro (USD 2.2 billion) plan to revive hiring and catch up with a fast-moving world economy.

The economic impact of last month's attacks in Paris will likely wipe a quarter off the growth that had been expected in the final three months of the year, the Bank of France said Tuesday.

The experience of attacks in New York in 2001, Madrid in 2004, London in 2005, and Bombay in 2008 shows the economic impact may be fleeting.

France`s economy grew by 0.6 percent in the first quarter of this year, the national statistics agency Insee said Wednesday, revising up its initial estimate by a tenth of a percentage point.

The French economy ground to a standstill in the second quarter of the year, official figures published on Thursday showed, further fanning fears that France could drag down a stuttering eurozone recovery.

The number of registered unemployed in France rose by 9,400 in June to a new record of 3.398 million, the labour ministry said on Friday.

France risks getting left behind in the eurozone economic recovery.