France’s economy sees record 13.8% GDP plunge in second quarter amid COVID-19 crisis

# 12:53
31 July 2020

France’s GDP plunged by 13.8 percent in April-June of 2020, which marks the country’s economy continuous recession attributed to the coronavirus outbreak and related health crisis, the INSEE statistics agency announced on Friday, APA reports citing Sputnik. 

"In Q2 2020, GDP in volume terms declined: –13.8 percent, after –5.9 percent in Q1 2020. It is 19 percent lower than in Q2 2019," the report read.

The COVID-19 related lockdown had been introduced in France in mid-March and lasted until May.

The INSEE said that stepwise lifting of restrictions has contributed to gradual economic recovery in May and June and better figures then previously estimated.