France's trade deficit confounded expectations to swell to a new record in September as global demand flagged under the weight of slowing economic growth.
The September trade deficit widened to €6.25 billion, far above the consensus forecast of €5 billion and more than the revised €5.372 billion in August.
Analysts have been expecting France's trade deficit to set new records, but not in September, especially as growth in Europe, which accounts for around two thirds of French exports, suffers.
In a separate announcement, the budget ministry said France's budget deficit at the end of September widened to €56.6 billion from €52.2 billion in the same period last year.
The latest budget deficit figure came just one day after the government raised its deficit forecast for 2008 to 2.9 per cent of gross domestic product from the 2.7 per cent seen previously.
Reuters