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French companies and consumers 'cautious' on spending

French President Francois Hollande is to make a speech on 14 January in which he will address the country's economic issues.

Maxime Alimi, senior eurozone economist at AXA Investment Managers, has told the Today programme's Simon Jack that "France has both cyclical and structural issues".

He explained that "unemployment is very high" in the country and that there is "very low growth".

He continued: "Both corporates and consumers are very cautious about spending" due to fiscal insecurity.

First broadcast on BBC Radio 4's Today programme on Tuesday 14 January 2014.