France's economy collapsed in the first quarter as the sharpest pace since the World War II as the spread of the coronavirus, or Covid-19, and the consequent lockdown hurt economic activity, Bank of France said Wednesday.
Gross domestic product shrunk 6 percent in the first quarter of this year, the bank estimated. That is the worst performance since 1945. The French economy had shrunk 0.1 percent in the fourth quarter of 2019. Another contraction in the first quarter would push the economy into a technical recession.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.