France’s economy slowed for the first time in three years between April and June, with a dip in consumer spending being blamed. <br /><br /> The adjustment comes in the third and final growth estimate by INSEE, the national statistics agency. <br /><br /> Previously it had said there had been no expansion in the second quarter; now it calculates the economy shrank by 0.1 percent. <br /><br /> France economy shrank 0.1% in 2Q despite goverment sepnding rose by 0.4%. But household consumption -0.1%, Investment -0.2%. pic.twitter.com/mu3MLOMyID— Darl van Dijk (@Lastcombo) September 23, 2016<br /><br /> The contraction in the eurozone’s second largest economy came after robust growth of 0.7 percent in the January to March period.<br /><br /> The latest numbers are a blow to President Francois Hollande who has insisted that the economy is getting stronger ahead of a presidential election due next April.<br /><br /> This comes just days after the Finance Ministry announced its budget for 2017 based on a projection of 1.5 percent growth for this year and next.<br /><br /> That budget included pledges of tax cuts and extra spending on defence and security as well as job training programmes for young people.<br />
