French Economy To Bounce Back As Lockdown Lifted

Posted 4 years ago

by smallz

France’s economy, which like those of other countries was pushed into a bruising recession by the coronavirus, will bounce back now that lockdown measures are lifted but will still contract over the year as a whole, official data showed Tuesday.

France’s gross domestic product, which had shrunk by a record 13.8 percent in the second quarter, is forecast to grow by 17 percent in the subsequent three months, the national statistics office Insee calculated.

Nevertheless, the rebound was not quite as strong as expected and Insee said it was sticking to its forecast for an overall economic contraction of 9.0 percent for the year as a whole.

If the easing of lockdown measures “has enabled a relatively rapid rebound in parts of economic activity,” the economy is returning after the summer break “rather like an engine that is being cranked up and choked at the same time,” Insee said.

While activity in key areas such as air transport and culture and entertainment continued to be throttled by the coronavirus restrictions, some sectors were still benefitting from the emergency economic measures put in place by the government, the statisticians said.

Insee pointed to the risk of a “significant shock to demand”, with consumer spending and household confidence expected to remain below pre-crisis levels.

As a result, the economic rebound will be “less rapid” between now and the end of the year, the agency predicted.

Comments ( 15 )

standardpahy

Yeah that so good of France

4 years ago

smallz

wow this is so surprising

4 years ago

lekanbams

Thanks for sharing this post

4 years ago

ziontotheworld

Wow everything is going smoothly

4 years ago

showfaze34

When will naija's economy too bounce back?

4 years ago

patrickuweyor

Thank God, at least something good news here

4 years ago

terver2018

May God help them, we are suffering in Nigeria due to economic hardship. Federal is still increased fuel prices.

4 years ago

oluwatosin432

Thanks for this nice post

4 years ago

otaseyon

Thanks for this vital information.

4 years ago

victory77

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4 years ago

williamsbill857

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4 years ago

iorshase_jnr

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4 years ago

johnnybravo429

Thanks for sharing this information waw

4 years ago

temmy

Thanks for sharing this post

3 years ago

annie_bella

Thanks for the wonderful information

3 years ago