Economics
French Economy Shows the Post-Lockdown Recovery Will Be Slow
- Bank of France estimates activity 27% below normal in April
- Business leaders see activity remaining subpar after lockdown
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French economic activity improved only slightly in the later stages of the virus lockdown and won’t snap back to normal levels in May despite the lifting of many restrictions, a Bank of France survey showed.
The central bank’s measure of lost activity compared with normal eased to 27% in April from 32% in March as some companies resumed low levels of production. Output will remain below usual levels in May, even as business leaders surveyed expect to step up activity after the government allowed all shops to reopen and lifted some travel restrictions.