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The French economy is emerging from the inactivity brought by the coronavirus outbreak as fast or faster than what was predicted a month earlier, Bank of France Governor Francois Villeroy de Galhau said on Sunday.
Last month, the Bank of France predicted that the European zone’s second-largest economy would record a 12% performance below normal levels by the end of June. This came better than the 32% reduction seen when France implemented lockdowns in late March.
In June, the central bank had an outlook of a 15% contraction in the second quarter. Villeroy said on Sunday that it might be “a bit better”.
“The recovery is going at least as well as we expected and perhaps a little better,” Villeroy said on LCI television. The central bank is expected to release its estimate on Tuesday, drawing on responses from a monthly business poll of thousands of companies.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
KYC Policy