French economy to contract 4.5 percent

(MENAFN) The national data institute INSEE stated on Wednesday, December 2, that France's post-lockdown economic revival is set to narrow off in the last quarter of 2020 as a second nationwide anti-coronavirus confinement takes a toll to business activity.

The eurozone's second-biggest financial system will shrink by 4.5 percent in the fourth quarter after a 18.7-percent recovery in the third quarter.

INSEE had formerly anticipated a quarterly expansion reduction of between 2.5 and 6 percent depending on the COVID-19 situation.

It said "After a strong, partly mechanical rebound in the third quarter, French economic activity should fall again during a partially confined fourth quarter".



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