France’s New Lockdown Won’t Stop Consumer-Led Recovery

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France’s New Lockdown Won’t Stop Consumer-Led Recovery

Paris and 15 other departments in France -- 42% of the economy -- will go into lockdown from Saturday for the third time since the pandemic struck a year ago. This will dent economic activity slightly in the near-term, but as the vaccination campaign progresses, Bloomberg Economics expects a significant easing of restrictions starting in May and a strong consumer-led recovery in the second and third quarters. As global demand and business investment continue to recover, BE predicts that the French economy will regain its pre-pandemic level by the middle of next year.

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