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2020-07-31 10:05:00

FRANCE'S GDP DOWN

FRANCE'S GDP DOWN

REUTERS - JULY 31, 2020 - The French economy contracted by a post-war record of 13.8% in the second quarter, as consumption, investment and trade all collapsed under a lockdown imposed to contain the COVID-19 pandemic, although the drop was shallower than expected.

The contraction in the euro zone’s second-largest economy was steeper than the 10.1% reported by Germany, where authorities kept a surge in COVID-19 related deaths in check and did not have to enforce a lockdown as strict as France’s.

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