France Economy Rebounds In Q3: Bank Of France
The French economy rebounded in the third quarter after posting a record contraction due to the lockdown in the second quarter, a report from the Bank of France showed Thursday.
According to central bank estimate, gross domestic product expanded 16 percent sequentially in the third quarter, following a sharp 13.8 percent decline in the second quarter. The estimate for the third quarter was left unrevised.
However, economic output was 5 percent below the pre-crisis level. The estimate suggested strong disparities at the sector level.
According to survey, business leaders expect industrial activity to remain relatively stable in October. Activities in services and construction are also expected to remain the same in October.