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| Covid-19 pandemic pushed French economy into worst recession since World War II – report | Covid-19 pandemic pushed French economy into worst recession since World War II – report |
| (6 months later) | |
| Coronavirus-related economic and social restrictions led to a “historic” drop of 8.2 percent in French GDP in 2020, data by the National Institute of Statistics and Economic Studies (INSEE) shows. | Coronavirus-related economic and social restrictions led to a “historic” drop of 8.2 percent in French GDP in 2020, data by the National Institute of Statistics and Economic Studies (INSEE) shows. |
| Previously, the institute assumed that the decline would be 8.3 percent. | Previously, the institute assumed that the decline would be 8.3 percent. |
| It said in a report, issued on Friday, that “On average in 2020, the economic activity unprecedentedly fell, by −8.2 percent after +1.5 percent in 2019.” | It said in a report, issued on Friday, that “On average in 2020, the economic activity unprecedentedly fell, by −8.2 percent after +1.5 percent in 2019.” |
| According to the report, in the fourth quarter of last year, the country's gross domestic product (GDP) shrank by 1.4 percent, while preliminary data indicated a decline of 1.3 percent. | According to the report, in the fourth quarter of last year, the country's gross domestic product (GDP) shrank by 1.4 percent, while preliminary data indicated a decline of 1.3 percent. |
| “In Q4, during which the second national lockdown and curfews were enforced, GDP stood 4.9 percent below its level in Q4 2019 (year-on-year evolution). Its year-on-year decline was moderate when compared to the drop in Q2, when the first lockdown occurred (–18.6 percent year-on-year),” INSEE said. | “In Q4, during which the second national lockdown and curfews were enforced, GDP stood 4.9 percent below its level in Q4 2019 (year-on-year evolution). Its year-on-year decline was moderate when compared to the drop in Q2, when the first lockdown occurred (–18.6 percent year-on-year),” INSEE said. |
| The French economy grew 1.5 percent in 2019, putting it among the best performers in Europe. However, the downturn last year marks its worst recession since World War II. | The French economy grew 1.5 percent in 2019, putting it among the best performers in Europe. However, the downturn last year marks its worst recession since World War II. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
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