France sees record 13.8% GDP plunge in Q2

The second quarter plunge of 13.8% means the French economy has been shrinking for three consecutive quarters and continues to be in recession. – EPA pic, July 31, 2020.

FRANCE’S economy contracted by a record 13.8% in the second quarter under the impact of coronavirus lockdowns, the national statistics institute INSEE said today.

The seasonally-adjusted quarter-on-quarter drop in gross domestic product (GDP) was better than forecasts but worse than the performance of its eurozone peers.

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