Economics
French Economy Is Weathering April Lockdown Better Than Last Year’s
- Bank of France estimates April GDP 7% below pre-crisis levels
- French economic activity sank 31% in April 2020 lockdown
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The French economy is slowing only slightly in April due to the tightening of Covid-19 restrictions, easing concerns that school closures would cause a deeper contraction.
The Bank of France said activity will decline to 7% below pre-crisis levels in April after President Emmanuel Macron imposed stricter travel restrictions and ordered schools and nurseries to close. The hit to activity in March was 4%, better than previously estimated thanks improvements in services, industry and construction, according to the institution’s monthly survey.