INSEE says that French economic activity is at 65% of normal levels

Author: Justin Low | Category: News

An estimate put out by the French official statistics agency

They note that French economic activity and household spending are running at about 65% of normal levels due to the coronavirus outbreak.

The estimate comes alongside their release of the monthly business confidence index, which saw its sharpest fall on record - going back to 1980 - with a fall from 105 to 95 in March.

If March is only reflective of a drop to 65% in economic activity, April is going to be much worse amid the ongoing lockdown measures in France and elsewhere in Europe.

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