French economy operating down 12% under new lockdown
Tuesday, 11 10 2020, Category: Economy, Country: France
France’s economic activity is 12% lower than normal this month after the country entered a coronavirus lockdown for the second time this year, the central bank said on Monday.
The government imposed the new lockdown on Oct. 30 to rein in a surge in new cases although the restrictions were softer than the first time to limit the impact to the euro zone’s second-biggest economy.
The Bank of France said economic activity was expected to be reduced by 12% of normal levels as a result, worse than the 4% drop in October but far better than the 31% loss seen in April during one of the strictest lockdowns in Europe.