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WorldPosted at: Sep 8 2020 4:31PM


France's GDP likely to contract by 9 pct this year: INSEE

Paris, Sep 8 (Xinhua) France's economy is set to contract by 9 percent for the whole year of 2020 due to the COVID-19 crisis, said the national statistics institute INSEE in a report released on Tuesday, unchanged from its previous forecast.
"We are maintaining our forecast (...) of a GDP contraction of around 9 percent. Definitely, the GDP drop in the second quarter was less than initially expected, but the health uncertainty tends to increase again and leads us to temper the expected pace of the recovery," INSEE said.
The French government had expected a full-year contraction of 11 percent.
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