The confidence of French entrepreneurs has been hit hard by the corona crisis. The index measuring confidence shows the strongest decline ever before March, the French statistics agency reported.
The indicator dropped to a reading of 95 out of 105 in February. This is the sharpest decrease since the measurements started in 1980. French entrepreneurs are particularly pessimistic about future production. The statistical office reported that economic activity and household spending in France are now at 65 percent of normal levels.
To combat the virus outbreak, French public life has been largely shut down and many companies have been closed.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.