French Economy Shrank 5.8% In Q1 In Worst Quarter On Record

The French economy shrank 5.8% in Q1, higher than an expected shrinkage of 4%, in its worst quarter on record. Growth figures from other major economies such an Germany, Italy, Spain (countries have high cases of COVID-19), along with a eurozone estimate follows. Yesterday, the US reported a 5% decline in gross domestic product (GDP) growth.