Source: ForexYard
As fourth quarter GDP numbers came in from around the EU, France presented a pleasant surprise with unexpected growth. As it stands, France is Europe’s second largest economy after Germany. The fourth quarter revealed growth of 0.2% and presented a stark contrast to the struggles of other European economies. Moody’s downgrade of several euro zone countries yesterday, including Spain, Portugal, and Italy, certainly hurt investor confidence and did nothing to turn around the economic downturn in Spain. France’s growth could help stave off an overall recession in the euro zone after the fourth quarter saw French companies investing and consumers spending.
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