The French economy grew by 16% during the third quarter of this year

Estimates by the French central bank said today, Thursday, that the country's economy grew by 16% in the third quarter of this year, after an unprecedented decline of nearly 13.8% in the previous three months, which is considered at the time of the peak of the pandemic.

It is reported that the second-largest economy in the euro area fell sharply towards recession in the second quarter of this year after imposing a package of the most stringent lockdown measures in Europe to limit the outbreak of the Coronavirus over a period of two months.

The central bank said that since the isolation measures were lifted on May 11, business activity has rebounded, and the economy has registered employment rates that are five percent lower than pre-crisis rates in September, based on the results of a monthly survey of 8,500 companies.

Officials at the National Institute of Statistics and Economic Studies said this week that the economy has grown by 16%, but also warned that it is likely to witness a cooling off in the last three months of the year in light of the increase in cases of Covid-19 disease again.