French economy in recession once again

Bad news for the French as recession hits French economy for the second time in less than four years.

The official figures show that the French economy has shrunk by 0.2% in the first quarter of the year. It may be recalled that French economy shrank by the same amount in the last quarter of 2012.

President Francois Hollande has said he expects zero growth in 2013, lower than a 0.1% growth forecast by the French government.

Separate figures showed that the recession across the 17-nation eurozone has continued into a sixth quarter.

Elsewhere, annual figures from Germany also show the German economy has shrunk by 1.4% when compared with a year ago.

Read more about it at: BBC News
Follow us on Facebook

Read more »

Britain: Headwinds turning into a hurricane

George Osborne suffered a new blow yesterday after it emerged that the first double-dip recession in Britain since 1975 has been even deeper than previously thought.

Official figures showed that the economy shrank by 0.3 per cent in the first three months of the year.

That is worse than the 0.2 per cent decline initially reported. The slump between January and March plunged the UK back into recession – defined as two quarters of contraction in a row – following the 0.3 per cent fall in output at the end of 2011.

And it is feared that output will fall again in the current second quarter because of the extra bank holiday

Read more: Mail Online

Read more »

Unemployment and bankruptcy take their toll - alarming 15% rise in suicides

Cases of suicide have rocketed since Britain plunged into recession, alarming new figures reveal.

Coroners courts concluded that 3,471 people had taken their own lives last year, a rise of 15 per cent compared to 2007.

However, right across the country, from the south west to Sunderland, local hotspots have seen numbers more than double.

And even in more affluent London and the Home Counties, large swathes of the region have seen suicide verdicts soar by more than 50 per cent.

Read more: Mail Online

Read more »