You have entered an incorrect email address! The French public sector represents more than a fifth of its economy, one of the largest proportions in Europe. But opting out of some of these cookies may have an effect on your browsing experience. journalists in 50+ countries covering politics, business, innovation, trends and more. Inside a looming constitutional crisis, Nigerian singer Wizkid on finding positivity amid brutality, David Hockney shares exclusive new paintings, Visions of Mohammed bin Salman — the reality and the fantasy, What Leavers and Remainers really think now, For 4 weeks receive unlimited Premium digital access to the FT's trusted, award-winning business news, MyFT – track the topics most important to you, FT Weekend – full access to the weekend content, Mobile & Tablet Apps – download to read on the go, Gift Article – share up to 10 articles a month with family, friends and colleagues, Integration with third party platforms and CRM systems, Usage based pricing and volume discounts for multiple users, Subscription management tools and usage reporting, Dedicated account and customer success teams. Germany's gross domestic product shrank by 9.7 percent on quarter in the April-June period, compared to a preliminary reading of a 10.1 percent plunge. But France’s lockdown was more severe and lasted longer than that of Germany. Europe's largest economy suffered its worst slump on record in the second quarter, as the coronavirus pandemic took a heavy toll on exports and consumer spending. Geography Demographics Economy Infrastructure Quality of living. The UK has taken an equally cautious approach to France, for example assessing the time spent by teachers working against normal, resulting in a 35% drop in production British education in the second trimester. World Bank national accounts data, and OECD National Accounts data files. He said the differences between countries could be as much about the stringency of their lockdowns as any variation in measurement methods. “Most of this is purely motivated by the fact that INSEE has chosen to take into account the fact that many public sector employees could not work,” said Mr. Moëc. This website uses cookies to improve your experience. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. “. Thomas Laurent, head of quarterly accounts at Insee, said he expected a rebound in French government consumption in the third quarter. France and Germany suffered record contractions in GDP in the second quarter, as offices, factories and schools were closed and their health systems prioritizing patients with coronavirus. The eurozone’s second-largest economy received a boost last week when the government announced a € 100 billion investment plan to support a rebound in Covid-19. In Spain, public consumption also rose 2 percent, while it fell 2 percent in Italy, even though both countries had lockdowns at least as tight as France. These cookies will be stored in your browser only with your consent. Find Out, Online tool for visualization and analysis. This led to a 13% drop in public consumption in France in the first six months of this year. But France’s lockdown was more severe and lasted longer than that of Germany. Germany. This website uses cookies to improve your experience while you navigate through the website. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It’s unclear how the Brexit will damage the UK economy of course, and for sure it will have a huge impact for over a decade or two. Explore similarities and differences. We'll assume you're ok with this, but you can opt-out if you wish. If you continue to navigate this website beyond this page, cookies will be placed on your browser. France is on the verge of closing the economic divide with Germany that has opened up due to differences in how countries have measured the impact of the coronavirus lockdown on their public sectors, economists say. It is mandatory to procure user consent prior to running these cookies on your website. Gain a global perspective on the US and go beyond with curated news and analysis from 600 Since 2008, and despite the beginning of the financial and economic crisis, France’s GDP has increased gradually. France vs Germany. France and Germany suffered record GDP contractions in the second quarter as offices, factories and schools were closed and their healthcare systems prioritised coronavirus patients. GDP per capita (current US$) - Germany, Netherlands, France from The World Bank: Data Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). 96. points. During France’s six-week lockdown, many of its millions of public sector employees were unable to go to work or do their jobs remotely from home. This was the deepest quarterly GDP contraction on record, as efforts to contain the rapid spread of COVID-19 weighed on activity and demand. “But these statistical problems suggest that we should take the estimates and ranking of the decline in first half GDP with a pretty big pinch of salt. Maybe. “Provided schools and hospitals return to normal, these measurement differences could be reversed in the third quarter,” said Jessica Hinds, economist at Capital Economics. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). To learn more about cookies, click here. This category only includes cookies that ensures basic functionalities and security features of the website. INSEE has forecast a rebound in the French economy with growth of 19% in the third quarter. Germany, on the other hand, had a less stringent lockdown and most of its public sector staff continued to work.
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