The recession officially starts at the end of 1992 and beginning of the 1993. It is a brief but important recession: GDP drops 0.5% in the last quarter of 1992 and 0.9% in the first quarter of 1993. The drop is amplified by weak exports figures as most of France's trading partners also entered recession at the end of 1992. On a yearly basis, GDP growth was limited to 1.5% in 1992 and -0.9% in 1993, the first negative figure since 1975.