French consumer spending rose 2.3% in August, defying market expectations for a second straight month of falling expenditure, official data showed on Wednesday.
Production at French factories, mines and water-treatment plants jumped an unprecedented 19.6% in May, nearly erasing an equally unprecedented plunge of 20.6% the previous month, the INSEE stats agency said.
France is faring worse than Germany, Europe’s largest economy, which on Thursday reported a 10.1% plunge in GDP during the April-June period as its exports and business investment collapsed.
Airbus is stopping production and assembly activities at its plants in France and Spain for the next four days as governments there implement new measures to restrict movements and fight the coronavirus outbreak, the planemaker said on Tuesday.
Mattar Mohammed Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), opened the 3rd Emirati-French Business Engagement Summit
The French government said on Saturday that it will unveil a week later than originally planned a 100-billion-euro ($118 billion) plan to nurse its coronavirus-stricken economy back to health.
The French government is sticking to its forecast for an 11% contraction of the French economy this year because of uncertainty over the outlook for the global economy.
Airbus on Wednesday posted a 49% slump in first-quarter core profit and called for an industry-wide campaign to restore confidence in flying after the coronavirus pandemic triggered the “gravest crisis the aerospace industry has ever known”.
French gross domestic product shrank 5.8% in the quarter from the previous three months, when the euro zone's second-biggest economy contracted 0.1%, the INSEE official statistics agency said.