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France's economic recovery slows despite rise in consumer spending

BUSINESS DAILY
BUSINESS DAILY © FRANCE 24

France's economy is recovering from lockdown slower than previously expected, according to new figures. The national statistics office Insee now forecasts GDP to rise by 17 percent between July and September, after a slump of 13.8 percent between April and June. The jobless rate is set to rise too, reaching 9.5 percent by the end of 2020. This gloomy picture comes despite signs that consumer spending rose significantly in August, at the peak of France's summer holiday period.

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