No change to the June estimate by INSEE
- French economy to fall by 17% q/q in Q2
- To rebound 19% q/q in Q3, then grow by 3% q/q in Q4
- Expects economy to contract by about 9% over the course of 2020
Once again, with all forecasts these days, just take things with a pinch of salt because they are highly volatile and subject to the constant change in virus developments across the region and also around the world.
As mentioned before, the better takeaway would be to look at any change in the trajectory of the projections. So far, what this is telling us is that the start of July remains similarly uncertain as compared to the outlook seen in June.
