The second largest economy in the euro zone is expected to contract by 11% this year, Economy Minister Bruno Le Maire said in an interview with France Inter radio on Friday. The French government’s previous forecast was for a 10% contraction.
However, the revision of the 2020 forecasts was “moderate” thanks to the “strong rebound” of the economy in the third quarter, said the minister.
The French economy grew by 18.2% in the third quarter after falling 13.7% in the second quarter, the French statistical agency Insee said on Friday in a first estimate for the period.
Write to Maria Martinez at [email protected]