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After Entering Virus-driven Recession with Biggest Drop, France GDP Set to Fall 'Around 20%' in 2nd Quarter

People walk in front of the Saint-Etienne church during the outbreak of the coronavirus disease (COVID-19) in Mulhouse, France March 12, 2020. Picture taken March 12, 2020. REUTERS/Denis Balibouse

People walk in front of the Saint-Etienne church during the outbreak of the coronavirus disease (COVID-19) in Mulhouse, France March 12, 2020. Picture taken March 12, 2020. REUTERS/Denis Balibouse

France's national statistics agency INSEE said that activity was resuming 'prudently' after lockdown measures were eased and that while consumer spending was rebounding consumer confidence slid a bit further.

Paris: France's economy could contract by around 20 percent in the second quarter as lockdown measures meant to slow the spread of the coronavirus slashed activity, the national statistics agency INSEE said Wednesday.

It also said activity was resuming "prudently" after lockdown measures were eased in France earlier this month and that while consumer spending was rebounding consumer confidence slid a bit further.


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