The Covid-19 recession that hit the French economy was completely non-standard, characterised by an unprecedented and sharp contraction of activity. This column discusses recent findings from the French business cycle dating committee, which show that the recession reached its trough in the second quarter of 2020. Since the third quarter of 2020, the economy has been in a recovery phase, with the majority of commercial sectors experiencing an increase in activity. Nevertheless, past experiences suggest caution about future growth, especially regarding the policy support for economic activity.
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