France: Economy to Rebound 19 Percent in Q3

SourceAl Bawaba
SectorEconomy
CountryBahrain

Published July 8th, 2020 - 11:10 GMT Highlights The economy was set to rebound 19% in the third quarter and a further 3% in the fourth quarter with activity seen 1-6% below pre-crisis levels by December, it added. The French economy is set to rebound sharply in the second half of the year after an unprecedented slump in the first half due to the coronavirus lockdown, the INSEE statistics agency said on Wednesday. The euro zone’s second-biggest economy likely contracted 17% in the second quarter from the previous three months, unchanged from a June forecast and already on the heels of a 5.3% slump in the first quarter, INSEE said, according to Reuters. The economy was set to rebound 19% in the third quarter and...read more...