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French economy rebounded 16% in third quarter

Christian Fernsby ▼ | October 8, 2020
The French economy rebounded 16% in the third quarter after an unprecedented 13.8% slump in the previous three months, the central bank estimated on Thursday, sticking with a previous forecast.
France street
Rebounded   France street
The euro zone’s second-biggest economy slumped deep into recession in the second quarter after the country was put under one of the strictest coronavirus lockdowns in Europe for two months.

Topics: French

Since the lockdown lifted on May 11, business activity has sprung back to life and the economy was operating down 5% from pre-crisis levels as of September, the central bank said, drawing on the findings of a monthly survey of 8,500 companies.

The INSEE official stats agency also estimated earlier this week that economic growth rebounded 16%, but warned that it was likely to taper off in the final three months of the year in the face of surging new coronavirus infections.