Economy: growth revised downwards



Video length: 1 min.

France 3

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It’s the cold shower with negative growth. The first three months of 2021 were impacted by the health crisis.

Materials are scarce and prices are soaring. For several months, a carpenter has struggled to move his site forward. “Here, on this site, we should have finished it, but we have just received the construction lumber only now. They are three months late. We have the work, but we won’t have the material“, regrets Michel Clemente.

The construction sector is slowing down, resulting in weaker than expected growth. For the first quarter of 2021, INSEE had to revise its growth estimate downward: from 0.4% of expected GDP increase to -0.1%. Growth is at half mast for the start of the year, also weighed down by the closure of shops and very low consumption. The expected recovery is long overdue, but if the Covid-19 epidemic continues to decline, there is not necessarily something to worry about.

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