The third confinement weakens hopes of a sharp rebound in growth

In normal times, France is distinguished by a certain lethargy.

Sitting on powerful economic stabilizers (social benefits on the one hand, taxes on the other), the country resists the shock of economic crises better than its peers, but then takes much longer to recover from them.

This was the case in 1929 or, more recently, in 2008. The current crisis, however, takes this axiom against the grain.

In the second quarter of 2020, economic activity collapsed in unequaled proportions in Europe, due to the severity of the health measures then implemented, and then rebounded very strongly.

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The cost to public finances better contained over the confinements

While a third of the country entered a new phase of containment last weekend, albeit lighter compared to the first two episodes, the government is still counting on this spring mechanism to ensure a rapid return to the level of activity of end of 2019 as soon as restrictions are eased.

“In the summer, the French economy will surprise with its ability to rebound

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