French Economic Activity Down in July

French economic activity in July declined by 7% from its pre-pandemic level, which reflects a slight improvement compared to June, which recorded a decrease of 9%.

The construction sector approaches pre-pandemic levels, according to the latest report issued by the French Central Bank.

In its monthly business conditions report, the French central bank said on Monday that the country’s GDP contracted by 13.8% in Q2.

The positive trend continued as France and other European governments took new measures to limit the rise of Covid-19 cases, in an attempt to avoid a return to the lockdowns that have hit economies worldwide.

“Activity continued to recover in July, in the industry as well as in services and construction, but at a slower pace than in the previous month,” the bank said.