The French economy’s contraction in the fourth quarter of 2020 was slightly more pronounced than previously estimated, data from the country’s statistics agency Insee showed Friday.
In the October-December period, gross domestic product shrank 1.4% from the previous quarter–0.1 percentage point more than the preliminary estimate of a 1.3% contraction released on Jan. 29.
GDP in the quarter contracted 4.9% from a year earlier, the data showed. The decline was 0.1 percentage point less than the 5% drop previously estimated.
The French economy–the eurozone’s second largest–is expected to contract again in the first quarter of 2021, as extended government restrictions to contain the coronavirus hinder economic activity.
Write to Xavier Fontdegloria at [email protected]
