France cuts growth forecast as new lockdown starts

Revised forecast: A man shops at a supermarket in Paris. French Finance Minister Bruno Le Maire has cut the country’s 2021 GDP growth forecast to 5% from 6%, following an 8.1% contraction last year. — AFP

PARIS: France’s economy will rebound less than previously expected this year due to the latest four-week nationwide lockdown aimed at halting a surge in coronavirus cases.

French Finance Minister Bruno Le Maire cut the country’s 2021 GDP growth forecast to 5% from 6%, following an 8.1% contraction last year. A Bloomberg survey in March showed economists were expecting the economy to expand 5.7%.