French finance minister Roland Lescure said the economy had stagnated for three quarters, warning that failure to deliver the budget's planned turnaround could lead to serious trouble. (EPA Images pic)PARIS: The French economy contracted in the third quarter, data showed Friday, and could be "headed for a wall" if the government is unable to get a deficit-reducing budget passed soon, the finance minister warned.
Gross domestic product shrank by 0.1% in the three months to September, the national statistics office Insee said, amid deepening concerns about the state of public finances and growing political tensions ahead of presidential elections next spring.
The decline came as inflation accelerated to 3.4% on an annualised basis in October from 3.1% in September, the fastest rate since January 2024, Insee said.
