France sinks deeper into recession, with 14% GDP hit in 2Q
4 years, 4 months ago

France sinks deeper into recession, with 14% GDP hit in 2Q

The Hindu  

France’s economy shrank by nearly 14% in the second quarter when the country was in coronavirus-related lockdown, a third consecutive quarter of negative growth in a worsening recession, the national statistics agency said on July 31. France’s economy was already slowing, shrinking by 0.2% in the last quarter of 2019, before the pandemic hit with full force. French GDP shrank by 5.9% in the first quarter of 2020 as COVID-19 patients started to flood and overwhelm hospitals. That health crisis, with COVID-19 killing more than 30,000 people in France, prompted the government in March to introduce what was one of Europe’s strictest lockdowns, halting much activity in the second-largest economy of the countries that use the euro currency.

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History of this topic

Britain’s ‘gangbusters’ growth offers Sunak a boost – but there may be a sting in the tail
7 months, 2 weeks ago

Britain’s ‘gangbusters’ growth offers Sunak a boost – but there may be a sting in the tail

The Telegraph  

Grant Fitzner, chief economist at the Office for National Statistics, used the word “gangbusters” to describe the performance, noting that almost every part of the services industry is growing while trade also contributed to the rebound. If this can be continued – and analysts at the National Institute of Economic and Social Research think it will – then this pace …

Europe heading for recession as cost-of-living crisis deepens
2 years, 3 months ago

Europe heading for recession as cost-of-living crisis deepens

The Hindu  

The eurozone is almost certainly entering a recession, with surveys on Monday showing a deepening cost-of-living crisis and a gloomy outlook that is keeping consumers wary of spending. "The PMI surveys signal that the euro area is entering recession earlier than we previously thought, led by its largest economy Germany, and we now see the euro area 'enjoying' a longer, …

France: Emmanuel Macron banks on robust economy for re-election
2 years, 8 months ago

France: Emmanuel Macron banks on robust economy for re-election

The Hindu  

As France’s election race heads to the first round of voting on April 10, front-runner President Emmanuel Macron has a strong argument to persuade voters that the reforms of his first term are bearing fruit — a robust economy. "Macron’s policies have been quite pro-business though he’s had to adapt some of them amid crises including the yellow vest protests …

Second Covid recession over: Dutch economy growing again
3 years, 4 months ago

Second Covid recession over: Dutch economy growing again

NL Times  

After half a year of economic contraction, the Dutch economy grew by 3.1 percent in the second quarter of this year, Statistics Netherlands said on Tuesday based on the currently available figures. The Dutch economy is not back to pre-pandemic levels yet, but with coronavirus lockdown measure relaxing, it seems to be heading that way. Compared to the second quarter …

Netherlands enters second recession since start of pandemic
3 years, 7 months ago

Netherlands enters second recession since start of pandemic

NL Times  

The Netherlands has entered its second economic recession in less than a year with preliminary data showing that the gross domestic product shrank by 0.5 percent during the first quarter of 2021. “In the first quarter of 2021, GDP was still 3.4 percent below the level before the outbreak of the coronavirus pandemic,” the CBS stated. GDP for the quarter …

Hospital workers despair as France’s coronavirus strategy flails
3 years, 8 months ago

Hospital workers despair as France’s coronavirus strategy flails

LA Times  

A medical worker moves a COVID-19 patient at Amiens-Picardie Hospital north of Paris on Tuesday. “It allows me to breathe,” she says, “and to cry.” People with COVID-19 occupy all the beds in her ICU ward in President Emmanuel Macron’s hometown hospital in the medieval northern city of Amiens. While other European countries imposed their third lockdowns in recent months, …

India exits recession but rapid GDP growth is still a long way off
3 years, 9 months ago

India exits recession but rapid GDP growth is still a long way off

CNN  

New Delhi CNN Business — India’s economy is out of recession but still a long way from returning to rates of growth seen before the pandemic. In a research note on Friday, Shilan Shah, senior economist at Capital Economics, estimated that GDP grew 9.2% in the last quarter of 2020 compared with the previous quarter, “enough to lift it back …

UK economy just had its worst year in three centuries
3 years, 10 months ago

UK economy just had its worst year in three centuries

CNN  

London CNN Business — The UK economy suffered its biggest slump in more than three centuries last year, with GDP falling by nearly 10% over the course of 2020. “Today’s figures show that the economy has experienced a serious shock as a result of the pandemic, which has been felt by countries around the world,” UK finance minister Rishi Sunak …

Coronavirus Variant Accounts For Up To 20% Of Cases In Paris
3 years, 10 months ago

Coronavirus Variant Accounts For Up To 20% Of Cases In Paris

News 18  

PARIS: The highly contagious variant of the coronavirus first detected in Britain now accounts for up to 20% of infections in the wider Paris region, a leading hospital executive said on Tuesday, calling for more restrictive measures to rein in the disease. France’s main COVID-19 indicators have reached two-month highs on average on Monday but the government, who will hold …

Lockdown extension will push Dutch economy into recession: Economists
3 years, 11 months ago

Lockdown extension will push Dutch economy into recession: Economists

NL Times  

If Prime Minister Mark Rutte extends the current hard coronavirus lockdown as he is expected to announce in a press conference on Tuesday, it will push the Dutch economy into a recession, NU.nl reported after speaking to economists from ING and Rabobank. The economists expect that the economy shrank in the last quarter of 2020, due to the stricter coronavirus …

France to Start Easing Covid-19 Lockdown Rules in 3 Steps, Prez Macron to Address Nation on Tuesday
4 years, 1 month ago

France to Start Easing Covid-19 Lockdown Rules in 3 Steps, Prez Macron to Address Nation on Tuesday

News 18  

France will start easing coronavirus lockdown rules in coming weeks, carrying out the process in three stages so as to avoid a new flareup in the pandemic, the government said on Sunday. What is at stake is adapting lockdown rules as the health situation improves while avoiding a new flare up in the epidemic,” government spokesman Gabriel Attal told Le …

Coronavirus lockdown in France to remain in effect until Dec: Prime Minister
4 years, 1 month ago

Coronavirus lockdown in France to remain in effect until Dec: Prime Minister

Live Mint  

French Prime Minister Jean Castex has announced that the nationwide stay-at-home regime will remain in effect amid still disturbing indicators of the COVID-19 virus' evolution in the country. The prime minister said that the impact from the second coronavirus outbreak is tough, specifying in a separate tweet that up to 500 COVID-19 patients have died each day over the past …

The US might need to follow France in imposing curbs
4 years, 1 month ago

The US might need to follow France in imposing curbs

Live Mint  

The coronavirus pandemic hasn’t finished with us yet. A spike in infections in recent weeks has sent new cases to records in a number of places around the world including the US, which already weathered two waves of outbreaks this year. That gap stretched to about two weeks during the second “Sun Belt” wave from 11 June to 14 September, …

Europe and US pass coronavirus milestones as France locks down
4 years, 1 month ago

Europe and US pass coronavirus milestones as France locks down

Live Mint  

Europe passed 10 million coronavirus infections, the United States topped nine million and France entered a new lockdown on Friday as the resurgent pandemic increasingly forced other countries to consider following suit. Belgium became the latest European country to tighten restrictions as virus numbers skyrocket across the continent, which recorded 41 percent more cases this week than the previous seven …

France imposes month-long national lockdown as covid cases surge: What changes in new shutdown
4 years, 1 month ago

France imposes month-long national lockdown as covid cases surge: What changes in new shutdown

India TV News  

French President Emmanuel Macron ordered his country into a new month-long, nationwide lockdown Wednesday aimed at stopping a fast-rising tide of virus patients filling French hospitals, but said schools and some workplaces will stay open. France announces new month-long lockdown | What we know With over 520 deaths recorded Tuesday, the French leader said the measure that will come into …

France is latest nation to return to lockdown amid COVID surge
4 years, 1 month ago

France is latest nation to return to lockdown amid COVID surge

Al Jazeera  

The new lockdown announced by French President Emmanuel Macron will begin Friday and last until December 1. France will go back into a nationwide lockdown starting this week to try to contain the COVID-19 pandemic that is again threatening to spiral out of control, French President Emmanuel Macron said in an address to the nation on Wednesday. The new measures …

A Lost Decade: Decoding the cost of Covid-19 pandemic
4 years, 2 months ago

A Lost Decade: Decoding the cost of Covid-19 pandemic

India Today  

A decade after facing the worst financial crisis since the Great Depression in the 1930s, the world has again stumbled upon an unprecedented economic challenge due to a microscopic virus. Citing International Labour Organisation estimates, the UNCTAD report indicated that the pandemic has put jobs of more than 500 million people in jeopardy, mainly in the developing world. In what …

Lockdown or a drip feed of Covid restrictions? One path is better for the economy
4 years, 2 months ago

Lockdown or a drip feed of Covid restrictions? One path is better for the economy

CNN  

London CNN Business — Governments across Europe are choosing between two vastly different strategies as a second wave of Covid-19 arrives in force. Robert Jenrick, the UK housing minister, told the BBC on Tuesday that Johnson’s government had “to balance protecting people’s lives,” with keeping people in education and employment. “No options are to be excluded considering the situation we …

'Exponential' virus spread in France as schools set to open
4 years, 3 months ago

'Exponential' virus spread in France as schools set to open

India Today  

With France's national health agency decrying an "exponential" rise in new virus infections, French President Emmanuel Macron has said he couldn't rule out a new nationwide lockdown. Macron said the government favours regional measures to stop outbreaks and will do everything it can to prevent a new nationwide lockdown by "learning to live with the virus." Amid worries that France …

Difficult to Accurately Assess Economic Impact of Covid-19 Due to Evolving Dynamics: RBI
4 years, 3 months ago

Difficult to Accurately Assess Economic Impact of Covid-19 Due to Evolving Dynamics: RBI

News 18  

The Reserve Bank on Tuesday said it is difficult to accurately assess the economic impact of COVID-19 pandemic as the dynamics are still evolving. "COVID-19's epidemiological dynamics are still rapidly evolving in India, rendering difficult an accurate assessment of its full macroeconomic effects," RBI said in its annual report. It said dynamic stochastic general equilibrium model built on New Keynesian …

Difficult to accurately assess economic impact of Covid-19, says RBI
4 years, 3 months ago

Difficult to accurately assess economic impact of Covid-19, says RBI

Business Standard  

The Reserve Bank on Tuesday said it is difficult to accurately assess the economic impact of COVID-19 pandemic as the dynamics are still evolving. "COVID-19's epidemiological dynamics are still rapidly evolving in India, rendering difficult an accurate assessment of its full macroeconomic effects," RBI said in its annual report. It said dynamic stochastic general equilibrium model built on New Keynesian …

Coronavirus fallout: Air France set to layoff 7,600 employees; will slash 40 pc workforce by 2022
4 years, 5 months ago

Coronavirus fallout: Air France set to layoff 7,600 employees; will slash 40 pc workforce by 2022

India TV News  

Air France is set to cut nearly 7,600 posts due to the COVID-19 pandemic, the French government has confirmed, calling on the airline to make as few compulsory redundancies as possible. In detail, Air France planned 6,560 layoffs, including 430 pilots, 1,560 flight attendants and more than 4,500 ground staff. The French state, which owns 14.3 per cent of the …

France’s economy returns to growth
4 years, 6 months ago

France’s economy returns to growth

CNN  

London CNN Business — The second biggest economy in the European Union returned to growth this month even as activity in the rest of the region continued to decline. “France looks to be leading the pack somewhat, especially from a manufacturing sector perspective,” said Chris Williamson, chief business economist at IHS Markit, the company that publishes the survey of executives …

Coronavirus | France reopens economy to quicken virus recovery
4 years, 6 months ago

Coronavirus | France reopens economy to quicken virus recovery

The Hindu  

President Emmanuel Macron announced that France is fully reopening its economy, including all restaurants, to accelerate the country’s recovery after virus crisis. Mr. Macron said restaurants in the Paris region will be allowed to open indoor seating starting on June 15. From June 22, all nursery schools, primary schools and junior high schools will be open and mandatory for all …

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