French economy operating down 12% under new lockdown – Bank of France survey

Dhwani Mehta FXStreet

The French economy is seen operating 12% lower from normal levels under the new lockdown vs. 31% loss seen during April’s lockdown. according to the Bank of France monthly survey of 8,500 business leaders.

Additional findings

“Services requiring direct contact with customers were expecting the hardest hit with activity seen down 40% in the wholesale, retail, transport, hotel and restaurant industries.”

“Meanwhile, businesses in manufacturing expected to operate at a loss of only 7% of their normal activity and construction 8%.”

“The survey corroborates the picture painted since the new lockdown by high-frequency data.”

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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