French economy continues shrinking, the results of the fourth quarter is under pressure

The French economy will be shrinking again in the fourth quarter due to the reintroduction of lockdown measures against the rising coronavirus. That’s what the French statistical office Insee reported.

In the best-case scenario, where the restrictions end on 1 December and economic activity picks up strongly again, a quarter-on-quarter contraction of 2.5 percent is expected. If the pandemic continues and economic activity does not improve, the decline can be 6%, says Insee. For the whole of 2020, the bureau is counting on a 9% to 10% reduction in the French economy.

“The second wave of Coronation and the renewed curtailment of the population have damaged the recovery and changed the pace of the crisis,” says the statistics office. According to Insee, the impact of the virus outbreak is now less significant than earlier this year because the lockdowns are less strict and more companies can remain open due to additional health measures. The catering industry in France can still be closed until mid-January, as was known earlier in the day.

The author: Clémentine FORISSIER

Clémentine Forissier, a youthful journalist hailing from Brussels, has been making waves in the field of media. Despite her relatively young age, she has quickly risen to prominence as a prominent voice in Belgian journalism. Known for her fresh perspective and dynamic reporting, Clémentine has become a recognized figure in the Brussels media scene, offering insightful coverage of various topics.

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