Bad news / Technically slowdown in France, GDP fell 6% in March quarter, economy's worst performance since 1945

                      So far more than 10 thousand people have died in France due to coronavirus.

·      France's GDP decreased by 0.1 percent in October-December too

·      The recession in France's economy for two consecutive quarters is called recession

The Economic news:- Coronavirus caused a recession in France, literally and bookish, amid fears of a slowdown in economies around the world. The Bank of France said on Wednesday that the French economy's performance in January-March 2020 was the worst since 1945. During this period, France's GDP has fallen by about 6 percent. Earlier in the October-December 2019 quarter, France's GDP had decreased by 0.1 percent. This means that France's GDP recorded two consecutive quarterly declines. According to book definition, two consecutive quarters of decline in the economy is called recession. This meant that France was technically in recession.





France's economic activity falls by 32% in last two weeks of March

The French central bank said that in the last two weeks of March, the coronavirus crisis was getting deeper. There has been a 32 percent decline in economic activity. Such a large decline in economic activity was reflected in the second quarter of 1968 due to the May political revolution. In that year also, GDP had fallen by only 5.3 percent, which is still less than the latest figures.






GDP will decrease by 1.5 percent every two weeks of lockdown

According to an estimate by Bank of France, every two weeks of continued lockdown due to coronavirus in France will result in a 1.5 percent drop in GDP. The bank also said that the level of decline can also fluctuate, as the situation is constantly changing.






Lockdown in France from 17 March to 15 April

The March 17 lockdown began in France to prevent virus infection. The lockdown period was later extended by two weeks to 15 April. According to government officials, the lockdown period can be extended further. According to the central bank, the worst effect of coronavirus has been on the construction, transportation, restaurants and lodging industry.






More than 10,000 people died of corona virus in France


More than 10,000 people have died in France due to coronavirus. More than 78 thousand people have been infected with coronavirus there. So far, more than 1 million people worldwide have been infected by the virus and 75 thousand people have died.