PARIS (Reuters) – France’s economy contracted less than initially thought in the first quarter, although it remained mired deep in recession due to a coronavirus lockdown, data from the INSEE official stats agency showed on Friday.
The euro zone’s second biggest-economy contracted 5.3% in the first three months of the year from the previous quarter, INSEE said, revising its initial estimate of a 5.8% fall.
Nonetheless, it was France’s deepest quarterly slump since 1968, when France was gripped by civil unrest, mass student protests and general strikes.
(Reporting by Leigh Thomas; Editing by Hugh Lawson)
