The French economic recovery is going "a little better" than the Banque de France had predicted recently, said its governor François Villeroy de Galhau on Sunday. “I am not saying that we are out of the woods at all, it is a very serious crisis. In addition, its effects on employment are staggered in time, so they are coming, but the recovery is going at least as well as we expected, and even a little better, " he said. on LCI. He thus lifted a corner of the veil on the trend that will be given Tuesday, during a review of a new estimate of French growth in the second quarter.
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"I do not yet have all the figures, we will give them on Tuesday morning," he said, before adding: "It is going at least as well as we had planned in early June, during our latest figures, and even a little better . After initially forecasting a rise in growth to “-12% at the end of June” , he estimated on Sunday that “it will be better than that” , counting on a figure a little better than the -15% forecast for the second quarter. Over the whole year, "the latest trends confirm our figure, it will be -10% or - we will make a revision in September - maybe a little better," concluded the governor.
He described a recovery curve "in a bird's wing" , with first a "brutal plunge, we go back like a half-V at the beginning, but then, it will gradually flatten out because we will put more time to return to the initial level, that of before March ", explained François Villeroy de Galhau, counting on a rhythm comparable to that known before the crisis " probably in 2022, at the beginning of the year or mid-year " .