France’s Economy Contracted 4% in Q4

The French central bank said today, Wednesday, that the country’s economy has likely contracted 4% in the last quarter of last year compared to the previous three months, although activity increased in December after the lifting of general isolation measures imposed to combat the spread of the Coronavirus.

In light of the fourth-quarter performance, the Bank of France said it was sticking to its previous estimate that the second-largest economy in the eurozone contracted 9% over the past year.

The central bank also estimates that the performance of the economy this month is 7% lower than pre-crisis levels, unchanged from December, but it recorded a rise from -11% in November when the country was subject to the second general isolation measures due to Corona.