France’s economy grows 16 in the third quarter of 2020

10/08 11:17

The French central bank estimated, today, Thursday, that the country’s economy expanded 16% in the third quarter of the year after an unprecedented decline of 13.8% in the previous three months, confirming previous expectations.

The second-largest economy in the euro zone fell sharply into recession in the second quarter of the year after imposing a set of strict lockdown measures in Europe to limit the outbreak of the Corona virus over two months.

The central bank said that since the lifting of these measures on May 11, business activity has rebounded, and the economy has recorded employment rates that are five percent lower than pre-crisis rates in September, based on the results of a monthly survey of 8,500 companies.

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