Thu, 28 Mar 2024 Today's Paper

Protest-hit France sees better-thanexpected growth

By

30 April 2016 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

AFP - France posted yesterday an acceleration in economic growth at the start of 2016, a rare dose of good news for President Francois Hollande as he confronts fierce opposition to planned job market reforms just a year ahead of elections.

Hollande’s hopes for a signature achievement on the economic front, notably through reforms that would make it easier for employers to lay off workers, have taken a hit from huge protests, including a demonstration that disintegrated into violent clashes Thursday night in the streets of Paris. The Socialist Party government will likely take some heart, however, from official data showing France’s gross domestic product grew by 0.5 percent in the first quarter of this year.

The expansion, reported in an initial estimate by the national statistics office, Insee, beat expectations of 0.4 percent growth and came on top of upbeat employment figures earlier this week showing the biggest drop in jobless numbers in nearly 16 years. eurozone’s second-biggest economy grew by 0.3 percent, a sign that France may be in a gentle recovery. French Finance Minister Michel Sapin said the figures showed the government’s efforts to kickstart the French economy were working. “Our action is bearing fruit. We will go on with it, determinedly, in the coming months,” he said. “It is solid growth that’s underway.” Household consumer spending, a traditional growth driver in France, helped boost the economy between January and March, rising by 1.2 percent -- the sharpest increase since the end of 2004.

Consumer spending had dropped in the previous quarter, which was overshadowed by the November 13 Paris terror attacks on bars, restaurants, concert and sports venues that left 130 people dead. With the clock ticking down on his term in office, France’s deeply unpopular Socialist president has staked his presidency on a pledge to rein in stubbornlyhigh unemployment, which stood at 10.3 percent in the last quarter of 2015.

The labour ministry said this week that the ranks of the unemployed fell 1.7 percent in March to 3.5 million job seekers. But the government faces fierce opposition to its centrepiece labour market reforms.


Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 0

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment





Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

VAT increase: SOUNDs death knell for publishers, readers

Though the Government imposed VAT (Value Added Tax) on vegetables and other e

How female change-makers are driving Sri Lanka’s energy saving platform

Saving energy has become more of a responsibility than a habit in today’s c

A dull Ramadan awaits Muslims amidst the Soaring Cost of Living

In the coming days, Muslims across the world will welcome the Holy Month of R

New wildlife underpass to curtail HEC

As of February 2024, Sri Lanka lost another 38 elephants as a result of the H