France's GDP fell less than expected in the first quarter
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
France's GDP fell less than expected in the first quarter
The French economy contracted less than originally anticipated in the first quarter, but remained in a deep recession, as the coronavirus pandemic affected spending, investment, and exports, detailed statistics from Insee showed on Friday.
Gross domestic product fell 5.3 percent sequentially instead of the initially estimated decline of 5.8 percent, which was the largest drop since the start of the series in 1949.
In the fourth quarter of 2019, the economy contracted by 0.1 percent. Two successive declines in GDP indicate that the economy has entered a technical downturn.
Consequently, total domestic demand contributed to a 6.0 point increase in GDP.
source..