French economy contracted 4% in Q4 -central bank

SourceZawya
SectorEconomy
CountryMiddle east

French economy contracted 4% in Q4 -central bank The central bank also estimated the economy was operating this month down 7% from pre-crisis levels    PARIS: The French economy probably contracted 4% in the final quarter of last year from the previous three months although activity picked up in December after a coronavirus lockdown was lifted, the French central bank said on Wednesday.In light of the fourth quarter performance, the Bank of France said it was sticking with a previous estimate that the euro zone's second-biggest economy shrank 9% over the course of last year.The central bank also estimated the economy was operating this month down 7% from pre-crisis levels, unchanged from December but up from -11% in November when the country was under its second coronavirus lockdown.(Reporting by Leigh Thomas; Editing by David Gregorio) ((leigh.thomas@thomsonreuters.com; +33 1 4949 5143;))Zawya CoveragesmeDubai's Falcon Network invests in Bangladeshi start-upreal estateBahrain's Ithmaar, Naseej sign deal to build $106mln housing in kingdomfinancial servicesCitibank UAE plans to expand assets under management to $15bln by 2025jobsLooking for a job? Here are the ones in high demand in the Middle EastequitiesDubai-listed Arabtec confirms hiring firms to sell its subsidiaries Target, AESMoreReuters CoveragepoliticsItaly's government close to...read more...