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France is expected to recover in 2022, forecasting that the country’s economy will recuperate from its sharpest post-war recession brought by the novel coronavirus crisis, the central bank said on Tuesday.
Europe’s second-largest economy is expected to decline by 10.3% this year. Though it is likely to contract, economic recovery is still possible as the Bank of France foresees a 6.9% growth in 2021 and 3.9% in 2022.
Job losses are likely to surge this year and the unemployment rate could reach a record of 11.8% in the first half of 2021.
The central bank believed that the outlook is tentative and it could grow more upbeat if the virus will be controlled immediately. However, a second wave of infections could drag the economy into a 16% contraction this year followed by growth of 6% in 2021 and 4% in 2022.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
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 ...
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 industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...
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 ...
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