French economy shrinks at fastest pace in 50 years; worse to come

PARIS (Reuters) - France's economy contracted less than initially thought in the first quarter but it still plunged deep into recession and the worst is yet to come, official data showed on Friday.The euro zone's second biggest-economy shrank 5.3% in the first three months of the year from the previous quarter, the INSEE official stats agency said, revising its initial estimate of a 5.8% fall.It was France's deepest quarterly slump since 1968, when the country was gripped by civil unrest, mass..