French Economy Shrinks as Businesses Hold Off on Investment
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The French economy unexpectedly shrank in the third quarter as President Francois Hollande failed to revive corporate investment in the face of one of the world’s heaviest tax burdens.
Gross domestic product fell 0.1 percent in the three months through September, national statistics office Insee said in an e-mailed statement. Economists forecast no growth, according to the median of 24 estimates in a Bloomberg News survey.