French economy shrank by 5.8% in first quarter

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French economy is officially in recession after contracting by 5.8% in the first quarter due to the country’s strict lockdown measures in place since mid-March.

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The French economy is officially in recession as it shrank by 5.8% in the first quarter due to the country’s strict lockdown measures in place since mid-March, according to an initial estimate unveiled on Thursday (30 April) by France’s National Institute for Statistics and Economic Studies (INSEE), reports EURACTIV France.

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