French central bank sees the country economy on course to bounce back to the pre-pandemic level. This quarter is estimated to bringing back all the decreasing sector and the central bank said that they might need to revise the 2020 forecast, as the country could expand by 14% in the third quarter if the current level of activities remains or increased.
It appraises that the economy had shrunk an equal 14% in the last quarter as the country economic activities restarting after the nationwide pandemic lockdown, a slightly lower than previous forecast of 15% contraction.
The government enforcing one of the strictest lockdowns in Europe starting mid-March to the beginning on the easing restriction starting May 11. The economic contraction slump at 5.3% in the first quarter alone. The economy was operating 7% down from normal levels, progressing from 9% down in the previous month and lower 32% at the start of the lockdown. The bank said if the outbreak remains under control and the recovery keeps on track, it could revise the contraction to 10% this year, brighter than the government forecast of 11%.
