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Activity close to its pre-crisis level in the food industry

August 2020
Par MyCfia
The Banque de France has just published a new economic update for France for the month of July 2020.
Activity is approaching its pre-crisis level in sectors such as the food industry and pharmaceuticals. On the other hand, it remains very degraded in other sectors, in particular in metallurgy, automobile and other transport ”can we read in the conjuncture point at the end of July 2020 published by the Bank of France, this Monday August 2020.

The level of the production capacity utilization rate in the agri-food industry stands at 79% for the month of July 2020 against 76% in June. This figure reached 72% in July against 69% in June for the entire industry sector. Business leaders in the food industry surveyed by the Banque de France believe that the level of activity in July reached 97% of “normal” against 78% in April. It should remain at the same level as that of July in August.

More generally, the GDP of France fell by 13.8% in the second quarter of 2020.The loss of GDP over a typical week of activity in July was -7% compared to the pre-crisis level ( - 9% for a typical week in June). Economic activity therefore continues to recover, but at a slower pace than in June and well below the pre-crisis level. Activities in August should be stable. " In industry (Editor's note: which includes the agri-food sector), order books are slightly replenished but remain at a low level " also specify experts from the Banque de France.

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