French growth forecasts show challenge to 2013 deficit goals

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The French economy contracted towards the end of 2012 and will barely grow in the first half of next year says national statistics agency Insee.

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The French economy contracted towards the end of 2012 and will barely grow in the first half of next year, national statistics agency Insee said Thursday, indicating that President Francois Hollande's aim to sharply reduce the country's budget deficit in 2013 could be under increased pressure, reports The Wall Street Journal.