The French economy slightly picked up in the first quarter, with a 0.4% increase in the gross domestic product (GDP), according to a preliminary estimate published this Friday by Insee.
This rebound, following the record recession recorded in 2020 (-8.2%), remains “limited,” according to the National Institute of Statistics, with the GDP still 4.4% below its level at the end of 2019, just before the start of the health crisis.
Moreover, household consumption spending in France decreased by 1.1% in March compared to February due to lockdown measures and the closure of “non-essential” stores in 19 departments, reports Insee.
Throughout the first quarter, household consumption “moderately rebounded,” by 1.2%, and remains 1.5% below its level in the fourth quarter of 2019, the last before the Covid-19 crisis.
