DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

French Economy Contracts Less Than Expected In Q4 With -1.3% Slump

By Dayeeta Das
Share this article
French Economy Contracts Less Than Expected In Q4 With -1.3% Slump

The French economy lurched back into contraction in the final quarter of last year but not as much as expected after the country faced a second coronavirus lockdown, official data released on Friday showed.

The euro zone's second-biggest economy shrank 1.3% in the final three months of last year after surging 18.5% in the previous quarter, when it staged an unprecedented rebound following a first lockdown, the INSEE stats agency said.

The result exceeded expectations for a 4% slump on average in a Reuters poll of 28 economists with estimates ranging from -1.4% to -5.3%.

It also meant that for the whole of 2020 the economy contracted 8.3%, better than the -11% the government had forecast in its budget plans.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

ADVERTISEMENT
Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.