France sinks even deeper into recession, with 14% of GDP affected in Q2

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The French economy shrank by nearly 14% in the second quarter, as the country was locked down against coronaviruses, a third consecutive quarter of negative growth in a worsening recession, the national statistics agency said on Friday.The surprising 13.8% drop from April to June clearly illustrated the appalling economic cost of the two-month lockdown. The pain has been so damaging to jobs and industries that the government is raising the possibility of another nationwide lockdown as infections rise again.

The French economy was already slowing, shrinking 0.2% in the last quarter of 2019, before the pandemic hit hard.

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French GDP declined 5.9% in the first quarter of 2020 as patients with Covid-19 began to flood and overwhelm hospitals.

This health crisis, with Covid-19 killing over 30,000 people in France, prompted the government in March to introduce what was one of the strictest lockdowns in Europe, halting much of activity in the second economy of countries using the euro.

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