French Economy Rebounded in 3Q, Beating Forecasts
October 30 2020 - 2:59AM
Dow Jones News
By Maria Martinez
France's economy rebounded in the third quarter, recovering from
its biggest contraction on record in the second quarter due to the
lockdown enforced to limit the spread of the coronavirus
pandemic.
The eurozone's second-biggest economy grew 18.2% during the
third quarter, following a revised 13.7% decline in the second
quarter, French statistics agency Insee said in a first estimate
for the period. Economists polled by The Wall Street Journal had
forecast a 15.0% expansion.
Year on year, the economy contracted by 4.3%, Insee said.
Spain, Germany and Italy will also publish GDP figures on Friday
and they are forecast to show strong rebounds following their
historic contractions in the second quarter. The eurozone as a
whole will also release the first estimate of its GDP for the third
quarter and a sharp expansion is expected.
Write to Maria Martinez at maria.martinez@wsj.com
(END) Dow Jones Newswires
October 30, 2020 02:44 ET (06:44 GMT)
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