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French economy rebounds despite Covid-19 closures

French economy rebounds despite Covid-19 closures
parisguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from parisguardian.com Daily Mail and Mail on Sunday newspapers.

French economy returns to growth despite virus rules » Borneo Bulletin Online

May 1, 2021 PARIS (AFP) – The French economy returned to growth in the first quarter, sustained by consumer spending even after COVID-19 restritions were re-imposed to curb a surge in infections, official data showed yesterday. Gross domestic product (GDP) edged up 0.4 per cent from the final three months of 2020, a year that saw the coronavirus outbreak plunge countries worldwide into historic recessions, the Insee statistics agency said. “However, the economic rebound was limited, as GDP is still 4.4 per cent below its level of the fourth quarter 2019,” before the COVID pandemic began raging across Europe, the agency said. Insee had originally forecast one per cent growth for the quarter, but in March French authorities began ordering business closures and travel bans in several regions ahead of a third national lockdown implemented in April.

Analysis: Locked-down Europe: cash to spend, nowhere to spend it

EuropeAnalysis: Locked-down Europe: cash to spend, nowhere to spend it Michael NienaberLeigh ThomasLeigh Thomas 1/2 Picture shows the abandoned Kennedy Square due to the coronavirus disease (COVID-19) pandemic lockdown in downtown Essen, Germany, March 11, 2021. REUTERS/Wolfgang Rattay Read More Only a few weeks ago, many European countries were hoping their more affluent citizens would by now have started spending nest eggs built up during the pandemic to trigger a consumer-led recovery in the region s economy. But with the spread of COVID-19 prompting new lockdowns across the continent and vaccine campaigns behind schedule, it is still unclear when - or indeed if - record levels of private savings will finally convert into a much-needed spending boom.

Bug sparks cash crisis in Europe

Bug sparks cash crisis in Europe
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Analysis: Locked-down Europe - cash to spend, nowhere to spend it

Analysis: Locked-down Europe - cash to spend, nowhere to spend it
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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