💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

French economic activity still a third below normal: INSEE

Published 05/07/2020, 02:53 AM
Updated 05/07/2020, 02:55 AM
© Reuters.

PARIS (Reuters) - French economic activity has picked up slightly over the last two weeks but remains a third below normal levels for this period of the year, the INSEE official stats agency said on Thursday.

Activity in the euro zone's second-biggest economy is currently down 33% from normal levels compared with 35% two weeks ago, INSEE said.

As France prepares for the lifting of a nationwide lockdown on Monday, the industrial and construction sectors were showing signs of a pick-up after sanitary safeguards were put in place to allow workers to return to their jobs, INSEE said.

Consumer spending was down by 32% from normal levels, little changed from the 33% INSEE estimated two weeks earlier.

INSEE has been estimating the economic impact of the lockdown since late March by cross-checking a range of data including electricity use and bank card data.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.