The French economy is emerging from the inactivity brought by the coronavirus outbreak as fast or faster than what was predicted a month earlier, Bank of France Governor Francois Villeroy de Galhau said on Sunday.
Last month, the Bank of France predicted that the European zone s second-largest economy would record a 12% performance below normal levels by the end of June. This came better than the 32% reduction seen when France implemented lockdowns in late March.
In June, the central bank had an outlook of a 15% contraction in the second quarter. Villeroy said on Sunday that it might be a bit better .
The recovery is going at least as well as we expected and perhaps a little better, Villeroy said on LCI television. The central bank is expected to release its estimate on Tuesday, drawing on responses from a monthly business poll of thousands of companies.
https://www.umarkets.com/en/news/french-economy-recovers-faster-than-previously-thought-central-bank
