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Fall in economic activity in France is around 35%

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Fall in economic activity in France is around 35%

The fall in economic activity in France due to measures to deal with the covid-19 pandemic and the confinement of the population, is around 35%, compared to what would be normal, revealed yesterday the French National Institute of Statistics (INSEE).

In a statement that insisted on the fact that all of its calculations were estimates, due to the exceptional circumstances in which the data were collected and the calculations performed, INSEE says that a month-long confinement will lead to a three percentage point drop in the Domestic Product Annual gross (GDP).

On the production side, the fall in activity is particularly severe in construction (89%), in industry (52%) and in services open to competition (36%).

The contraction is much milder in agriculture and the agri-food industry, at 4%, according to INSEE.

Regarding private consumption, the statistics institute estimates that it is around 35%, also emphasizing falls between 90% and 100% in the case of transport material and textiles and clothing, with a contraction of around 55% in catering, accommodation and transport services.

At this level, water and electricity consumption have been maintained and demand for pharmaceutical products has risen by 5%, while food and agri-food products have risen by 6%.

INSEE also explained that the business climate dropped 10 points in March, the biggest drop since the monthly series of this indicator was created in 1980, which stood at 95 points, that is, below 100 points, which is the value of long-term average.

The drop is 14 points in services, 13 in retail, five points in wholesale and three points in industry.

The authorities in France decreed, as of March 17, the mandatory confinement of the population.

On Wednesday, 25,233 people had been declared infected, with the death toll totaling 1,331, 231 more dead than the previous day.

The new coronavirus, responsible for the covid-19 pandemic, has already infected nearly 450,000 people worldwide, of whom more than 20,000 have died.

After appearing in China in December, the outbreak spread worldwide, prompting the World Health Organization (WHO) to declare a pandemic situation.

The European continent, with around 240,000 infected, is the one where the highest number of cases is currently emerging, and Italy is the country in the world with the most fatalities, with 7,503 dead in 74,386 cases recorded to date.

Spain is the second country with the highest number of deaths, registering 3,434, among 47,610 cases of infection.

China, apart from the territories of Hong Kong and Macau, where the epidemic emerged in late December, has more than 81,200 cases, with 3,281 deaths recorded.

In the last 24 hours, he reported 47 new cases, all of which originated abroad.

The countries most affected after Italy, Spain and China are Iran, with 2,077 deaths in a total of 27,017 cases, France, with 1,331 deaths (25,233 cases), and the United States, with 827 deaths (more than 60,000 cases).

In Portugal, there were 43 deaths, 10 more than the day before (+ 30.3%), and 2,995 infections confirmed, according to the balance made Wednesday by the Directorate-General for Health, which identified 633 new cases in relation to Tuesday (+ 26.8%).

The African continent recorded 69 deaths due to the new coronavirus, exceeding 2,631 cases.

Several countries have adopted exceptional measures, including the quarantine regime and border closure.

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