Banque de France records contraction of 6% of GDP in the first quarter

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The Banque de France forecasts a contraction in gross domestic production of 6% in the first quarter, the largest contraction since the Second World War.
The sharp drop is due to containment measures put in place to stop the spread of the virus on March 17, which are currently scheduled to end on April 15, although the government has warned that they could be extended.

Every two weeks of foreclosure could reduce annual economic activity by 1.5%, said the Banque de France, in line with INSEE estimates.
Write to Maria Martinez at [email protected]

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