As expected, the reconfinement will cost the French economy dearly. Monday the Banque de France anticipates that “the loss of GDP for a typical week of activity (compared to the normal level before the pandemic) would be -12% in November, against -4% in October but -31% in April ”or at the time of the first confinement in France.
In its monthly business survey, the Banque de France specifies that this loss of GDP goes with a plunge in catering, non-food trade and recreational activities.
Economic activity reduced from 9% to 10%
The country should also see its economic activity reduced from 9% to 10% in 2020, François Villeroy de Galhau, the governor of the Banque de France, told RTL on Monday.
The Banque de France predicted in September a drop in gross domestic product (GDP) of 8.7% this year, before the second wave of Covid-19.