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French economy shrinks 6% in Q1: Bank of France
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PARIS : In its worst performance since 1945, the French economy shrank around six per cent in the first quarter of this year as the coronavirus pandemic decimated business activity, the Bank of France said Wednesday.
Official figures showed previously that the economy shrank 0.1 per cent in the last three months of 2019, meaning that with two consecutive quarters of negative growth, the country is now technically in recession.
The French central bank said that in the last two weeks of March, as the coronavirus crisis deepened, economic activity plunged 32 per cent. "You have to go back to the second quarter of 1968, hit by the May (political upheaval), to find a similar fall in activity," it said, noting that even that year the downturn
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