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  • The French economy will shrink about 10 percent this year due to the coronavirus pandemic and will only recover to pre-crisis levels by mid-2022, the Bank of France said Tuesday. It said signs of a "progressive" recovery should be seen from the third quarter this year after a slump in output of 15 percent in the three months to June. The economy should then expand seven percent in 2021, gaining another four percent in 2022, it said. Unemployment is likely to hit highs of above 11.5 percent in mid-2021, it added. mhc/pn/tq/bmm/wdb
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  • French economy to shrink about 10% in 2020: central bank
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