. France had to revise its 2008 growth forecast and make adjustments downward to reflect the impact the US real estate, mortgage, and banking markets effect on its own markets. France now intends to keep a closer eye on the US real estate markets to determine how much they will continue to impact their own. They had originally projects a 1.7% to 2.0% growth for 2008. They have now sliced that prediction nearly in half to slightly over 1%. It just goes go to show that the US markets affect a lot more than just economies within its own borders – and that the slumping economy and real estate markets in the USA are being felt abroad in other countries as well.