French economy 'under anesthesia'
Economy

French economy 'under anesthesia'

Agency News

France's coronavirus lockdown has eroded economic activity to a bare minimum, the national statistics office said Thursday.

"Like a person placed under anaesthesia, the French economy can now ensure only its vital functions," INSEE said, estimating that activity in the private sector, which makes up around three-fourths of total GDP, had plunged 41 percent overall.

Some industries, like construction, restaurants and tourism, have effectively been at a standstill since the business closures and stay-at-home orders were announced in mid-March.

France's coronavirus lockdown has eroded economic activity to a bare minimum, the national statistics office said Thursday, as officials weigh the risks of trying to reopen businesses even as infections remain high.

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