German GDP grew less than forecast, France slides into recession

http://www.cnbc.com/id/100665445

France's economy contracted 0.4 percent year-on-year in the first quarter, while gross domestic product shrunk 0.2 percent quarter-on-quarter. The drop comes after a 0.2 percent contraction in the final quarter of 2012.

Germany, meanwhile, fell short of expectations and grew by 0.1 percent in the first quarter. It showed a 0.2 percent decline in growth year-on-year. A revision to the fourth quarter figure added to disappointment; the figure for the final three months of 2012 was revised downwards from a contraction of 0.6 percent to a contraction of 0.7 percent.