All good news is good to take, the French economic recovery after the coronavirus crisis is going "a little better" than expected, according to the Banque de France. "I am not saying at all that we are out of the woods, this is a very serious crisis. In addition, its effects on employment are offset over time, so they are coming, but the recovery is happening less as well as we expected, and even a little better, "said Governor François Villeroy de Galhau on LCI.
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"It will be -10% or maybe a little better"
An index on the trend that will be given Tuesday on the occasion of a point on the new estimate of French growth in the second quarter. "I do not yet have all the figures, we will give them on Tuesday morning," said François Villeroy de Galhau, before completing: "It is going at least as well as we had planned at the beginning of June, during our last numbers, and even a little better. " The forecasts announced a growth of "-12% in June", but the governor of the Bank of France estimated that "it will be better than that", betting on a figure better than the -15% initially planned for the second quarter. Over the whole year, "the latest trends confirm our figure, it will be -10% or maybe a little better," concluded the governor.
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What awaits us is a "bird's-wing" curve, with first a "brutal plunge, we go up like a half-V at the beginning, but then it will gradually flatten out because we will take more time to return to the initial level, that before March ", explained François Villeroy de Galhau. According to him, "we will have to wait until 2022" to find a rhythm comparable to that before the coronavirus crisis.