France’s economy stalled in the first quarter, posting zero growth, according to initial GDP estimates. The figures reflect the effects of the Middle East conflict that began on February 28.
Data released by INSEE on Thursday showed that sluggish domestic demand and a significant drag from foreign trade weighed on overall economic performance.
Earlier projections had been more optimistic. Just weeks ago, the French central bank suggested growth could reach 0.3% for the January–March period, while INSEE had already revised its own forecast down from 0.3% to 0.2% by late March.
