France’s economy is on the rise of the coronacrisis, but is expected to shrink by 9 percent this year. This was reported by the French statistical office Insee, which thus confirms an earlier prognosis.

Insee says that France’s economy is taking advantage of the removal of the strict lockdown measures, but that the recovery is not as strong as expected. In the second quarter of this year, the economy shrank at a record rate of 13.8 percent.

The agency states that economic activity will improve in the third quarter to 95% of the pre-outbreak level and to 96% by the end of this year. In the second quarter, this was 81 percent.

Unemployment in France is expected to rise to around 9.5% by the end of this year. That was 7.1% in the second quarter.

Load More Related Articles
Load More In Business

Leave a Reply

Your email address will not be published.

Check Also

Rolex extends his reign to second-hand luxury watches

Rolex has officially launched a second-hand watch certification program, giving the Swiss …