French economy probably bouncing back faster than expected: central bank

PARIS (Reuters) - The French economy is pulling out of the slump induced by the coronavirus outbreak at least as fast as expected a month ago, and maybe even a little faster, Bank of France Governor Francois Villeroy de Galhau said on Sunday. The central bank estimated last month that the euro zone's second-biggest economy would be operating 12% below normal levels by the end of June, up from a 32% reduction at the start of France's coronavirus lockdown in late March

The central bank estimated last month that the euro zone's second-biggest economy would be operating 12% below normal levels by the end of June, up from a 32% reduction at the start of France's coronavirus lockdown in late March.

The Bank of France is due to update its estimate on Tuesday, drawing on responses from a monthly business climate survey of thousands of companies.

"The recovery is going at least as well as we expected and perhaps a little better," Villeroy said on LCI television.

In June, the central bank forecast the economy had probably contracted 15% in the second quarter. Villeroy said on Sunday that it might be "a bit better".

 

Source: https://www.firstpost.com/business/french-economy-probably-bouncing-back-faster-than-expected-central-bank-8561891.html

 

Share this page Share on FacebookShare on TwitterShare on Linkedin
Close

Discover the 'Made in France à Bahrain' Guide

'Made in France à Bahrain' - Edition 2021
is YOUR guide to the economic presence in Bahrain. Click here to view the online guide