French April Consumer Spending Plunges 34% Vs February: Insee

Fahad Shabbir (@FahadShabbir) Published May 29, 2020 | 12:26 PM

French April consumer spending plunges 34% vs February: Insee

Consumer spending in France dropped 33.7 percent in April compared with February, before the country went into lockdown to halt the coronavirus outbreak, statistics agency Insee reported Friday

Paris, (UrduPoint / Pakistan Point News - 29th May, 2020 ) :Consumer spending in France dropped 33.7 percent in April compared with February, before the country went into lockdown to halt the coronavirus outbreak, statistics agency Insee reported Friday.

The government ordered businesses shut and residents to stay home on March 17, sending the economy into a recession that experts say could persist for months.

In the first three months of the year, GPD shrank 5.3 percent, Insee said Friday, less than its initial estimate of a 5.8 percent decline.

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