French economy contracts 6 percent in Q1

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French economy contracts 6 percent in Q1; The French economy contracted by 6 percent in the first quarter of 2020 due to the coronavirus outbreak.

The Central Bank of France announced that the Gross Domestic Product decreased by 6 percent in the first 3 months of this year due to the coronavirus epidemic. These data have been recorded in the country as the worst quarterly performance of the French economy since 1945.

It was noted that economic activities in the country in the last 15 days of March decreased by 32 percent compared to the same period of the previous year. The French Central Bank predicted that the Covid-19 measures taken in the country would cause GDP to fall 1.5 percent every 15 days.

According to reports in the French press, the country has entered an economic recession with this economic contraction. French Economy Minister Bruno Le Maire said two days ago that the country may experience the biggest economic recession since 1945 this year due to the new type of coronavirus.

Published date: May 4, 2020 Publisher / Viewer : Economic Finance News Online

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