But French GDP outshone expectations by growing 0.4 per cent in the first quarter, lifted by higher construction activity and a mild rebound in household consumption. The euro zone economy suffered a record post-war recession in the first six months of last year as the pandemic first hit, and then dipped again in the final quarter of 2020 by 0.7 per cent. A fresh contraction in the first quarter would leave it in a second technical recession, defined as two successive quarters of negative growth. In Germany, falling household consumption offset higher manufacturing exports. However, French household consumption fell sharply in March after tighter curbs were imposed.

Source: The Irish Times April 30, 2021 09:38 UTC