Economics
French Economy Stabilizes at 5% Below Pre-Pandemic Levels
- Economic estimates more uncertain than usual: Bank of France
- Villeroy de Galhau confirms 5% growth forecast for 2021
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French economic activity is running at 5% below pre-crisis levels as the government holds off from imposing a full Covid-19 lockdown beyond the current curfew and closures in some sectors, the Bank of France said Tuesday.
After dipping to 7% below normal during November’s lockdown, the economy improved somewhat in December and is expected to remain steady through February, according to the central bank’s monthly survey of 8,500 companies conducted between Jan. 27 and Feb. 3. The stability comes despite the introduction of slightly stricter restrictions in recent weeks, including an earlier curfew and the closing of large shopping malls.