Economics
France’s Economic Rebound Is Stronger Than Initially Thought
- Central bank sees 2020 GDP contracting 8.7% vs 10.3% in June
- Activity 5% below pre-crisis levels in August: Bank of France
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France’s economic recovery from the coronavirus lockdown is stronger than previously expected, the Bank of France said Monday as it revised up its growth and inflation forecasts for this year and next.
The slump in the euro area’s second-largest economy during state-ordered confinement wasn’t as deep as initially reported, and recent activity has been better than business leaders had forecast, central bank surveys showed.