By Eurasia Business News – January 13, 2021
La Défense, the financial and business district of Paris, France, August 2019 – Photo credits : Eurasia Business News
The French economy contracted by 4% in the fourth quarter, estimates the Banque de France in an economic analysis published on Wednesday, despite a partial rebound in activity observed in December after the lifting of the lockdown started in early November to fight against the coronavirus spread.
In light of these data for the end of 2020, the French central bank maintains its forecast of a 9% decline in France’s gross domestic product (GDP) over the whole of 2020.
The French economy is evolving this month at a level 7% lower than its level before the coronavirus epidemic, the Banque de France still estimates based on the survey it conducted between the 21st December and January 7 with 8,500 companies.
This is an identical level to December and a less deteriorated situation than in November (-11% compared to the pre-health crisis level) when the country was placed for the second time in confinement to stop the spread of the coronavirus.
For industry, as for services and construction, the activity levels reached in December are slightly higher than what was expected last month by French business leaders.
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