French economy suffers drop

FRANCE’S economy contracted in the second quarter as the dollar’s drop stifled exports and consumer spending fell, pushing the economy of the 12 countries sharing the euro to the brink of recession.

Gross domestic product in France, Europe's third largest economy, shrank 0.3%, state statistics office Insee said in Paris.

The slump means the euro region's $8 trillion economy likely contracted for the second time since the currency was introduced in 1999, said the EU statistics office.