France’s economy declined in the second quarter at a record rate of 13.8% compared to the previous period due to the corona crisis and lockdown measures to combat virus outbreaks. This was confirmed by final figures from the French National Statistical Office. It is the strongest contraction since the beginning of measurements more than 70 years ago.

The final Friday measurement is equal to the provisional estimate and fully in line with the forecast of economists. In the first quarter of this year, the French economy recorded a minus of 5.9%. At that time, France was already suffering from the crisis.

Compared to a year ago, France’s economy shrank by 18.9%, a little less than in the first estimate. The virus outbreak hit French industry, construction and tourism hard, as did Investment, Trade and consumer spending.

About the author: Damien Karlström

The editor-in-chief worked for many years as a literary editor in Bern's leading publications. Over time, I decided to become the editor-in-chief. The main direction of materials is international relations and society.

Load More Related Articles
Load More In Politics

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Credit Suisse helping Russian clients evade sanctions, US authorities suggest

The suspicions surrounding Credit Suisse’s alleged involvement in helping Russian cl…