National Institute of Statistics and Economics Sees French Recession

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By Douglas A. McIntyre Published

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France is about to fall into a recession according to its statistics bureau– the National Institute of Statistics and Economics.

France is already on a credit watch with negative implications according to Fitch. Many analysts believe an S&P downgrade of the nation’s debt could happen before the end of the year.

France’s rating is viewed as essential to the of the EFSF. The ability of that fund to borrow money to bailout week nations in the region could undermine the ability of effect rescues. French and German ratings are the underpinnings of the EFSF rating

According to MarketWatch:

The National Institute of Statistics and Economics said Thursday that the France’s gross domestic product will contract by 0.2% in the fourth quarter of 2011 and by 0.1% in the first quarter of 2012, before edging up 0.1% in the following quarter.

Douglas A. McIntyre

 

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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