Bank of France: French economy at 1.0-1.5% below pre-COVID levels in July
The French economy ran at between 1.0-1.5% below pre-COVID-19 levels in July, according to a Bank of France survey on Monday, as the euro zone’s second biggest economy emerged from a lockdown but faced new protocols to tackle the virus.
The Bank of France expected activity to be stable in the country’s dominant services sector this month, but added that measures such as a COVID “health pass” – required by bars and restaurants – could impact the food services sector.
Data last month showed the French economy grew 0.9% in the second quarter from the previous quarter. France has a 6% growth target for the whole of 2021.
Source: Reuters (Reporting by Sudip Kar-Gupta Editing by Mark Heinrich)