French economy could contract 20% in second quarter - INSEE

French gross domestic product could fall by as much as 20% in the second quarter from the previous three months as the economy emerges from a nationwide coronavirus lockdown, the INSEE official statistics agency estimated on Wednesday.INSEE said the economy could contract 8% for the whole of 2020 in the unlikely scenario that activity returned to pre-crisis levels by July.INSEE estimated that France's economic activity was running at 21% below normal levels after the lockdown in place from mid-M