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French economy tugging down eurozone recovery

eiffeltowerThe economy of France, the second largest in the euro region, remained in the doldrums in April with little sign of improvement.

This was against a backdrop of improved growth in the other large euro nations, although that registered in April was slightly weaker than in March.

Growth in the French private sector slowed during the month. The manufacturing and service sectors also fell in April as the industrial sector continues to decline.

An economist at Crédit Agricole said that France was “still lost in stagnation”, while an economist from Markit called it a “moribund economic environment”.

A board member of the European Central Bank said: “The eurozone recovery is clearly there.”

But despite growth coming back, it has been “insufficient and somewhat unequally spread from country to country”.

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