French economy to bounce back as lockdown lifted
Wednesday, 09 09 2020, Category: Economy, Country: France
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.
Source: The Daily Star