Quarantine restrictions caused by the coronavirus pandemic will lead to a twenty percent reduction in France’s GDP in the second quarter of 2020.
Such a forecast is given by the national statistical agency Insee.
According to analysts, the French economy works “about four-fifths of its pre-crisis level” compared with two-thirds during a period of tight blocking. Insee also notes that economic activity resumes too cautiously, and consumer confidence declined slightly. So, the consumer confidence index fell by two points in May – to 93.
“Indicators of future activity have stopped falling, but statements about the prospects remain bleak,” the agency said.