The French central bank expects the country’s economy to recover almost completely from the corona crisis this quarter. If economic activity remains at its current level, the economy will grow by 14 percent in the third quarter.
In the first half of the year, the French economy shrank by a total of 15 percent. Immediately after entering the severe lockdown in mid-March, a 5.3 percent dip was seen. The economy continued to contract until the lockdown was lifted gently in May.
At the moment, the French economy is still 7 percent worse than normal, but 32 percent better than just after the start of the lockdown.
The French central bank predicted a contraction of 10 percent for the whole of 2020 earlier this year, but will adjust that expectation if the country can control the corona outbreak.
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