PARIS (AFX) - The French economy has the means to withstand the impact of the worsening international economic climate, a senior finance ministry source said.
"The French economy can weather the unfavourable international economic environment," the source said.
He cited as evidence favourable consumer spending and continuing investment by businesses which he said is "still positive, although less strong".
He said the fact that there is a global economic slowdown is "beyond doubt", and that this originated in the U.S.
The debate is no longer over whether the U.S. economy faces a soft or a hard landing "because it is definitely hard", he said.
The global nature of international finance has meant that the U.S. downturn and Japan's stagnant economy have impacted Europe more quickly than would have been the case previously, he said.
However, the existence of the euro has limited the negative impact on Europe of these developments, he said.