Bank of France Expects a 6% GDP Contraction in 1Q
The Bank of France forecasts a 6% gross domestic production contraction in the first quarter, the biggest contraction since the Second World War.
This sharp decline is due to the containment measures implemented to stop the spread of the virus on March 17, which are currently set to end on April 15, although the government has warned they could be extended.
Every two weeks of lockdown could reduce annual economic activity by 1.5%, the Bank of France estimated, in line with the estimates from the French statistics office INSEE.
Source: Dow Jones