French economic activity runs 7% below normal level in July

French economic activity runs 7% below normal level in July

© Reuters. A regional branch of the Bank of France in Nantes

PARIS (Reuters) – Economic activity in France ran at 7% below normal levels in July, a slight improvement on June, as the construction sector neared pre-coronavirus crisis levels of activity and industrial capacity usage nudged higher, the Bank of France said.

In its monthly update on business conditions, the central bank said on Monday the euro zone’s second biggest economy contracted 13.8%, in line with its forecast.

“The rebound continued in July, at a more moderate rhythm, in line with the trajectory anticipated last month,” the bank said.

In June, economic activity was 9% below normal levels, up from the 32% reduction seen during the first two weeks of lockdown in March.

The positive trend continued just as France and other European governments took new measures to curb a renewed rise in infection rates, desperate to avoid a return to the lockdowns that battered economies globally.

In the manufacturing industry, capacity utilisation in July rose 3 points to 72%.

Manufacturing and service sector activity would be stable in August, the bank projected.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.