French economic rebound on track despite new COVID wave -INSEE

France's economic recovery remains on track despite the latest wave of COVID-19 outbreaks, the national statistics agency said on Tuesday, revising its 2021 outlook marginally higher.

The euro zone's second biggest economy is set to grow 6.25% this year, INSEE said in its latest economic outlook, revising its forecast up from 6% previously.

The outlook is a touch more upbeat than that of the government, which is expecting the economy will grow 6% this year after contracting a record 8% in 2020.

Faced with a fourth wave of COVID-19 infections, the government required from last month proof of vaccination to enter many public places such as restaurants, cinemas and trains.

INSEE said the new requirement had only had a "moderate" impact on affected sectors and the economic activity should be down only 0.1% from pre-crisis levels by the end of the year.

On a quarterly basis, INSEE estimated the economy would grow 2.7% in the three months through to the end of September, before slowing to 0.5% growth in the final quarter of 2021. 

 

Source: French economic rebound on track despite new COVID wave -INSEE (yahoo.com)

 

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