The INSEE official statistics agency said gross domestic product (GDP) in France shrank by a huge 5.8 percent in the first quarter compared to the final three months of 2019. This follows a slight slump of 0.1 percent during that period, but marks the second consecutive quarterly contraction, meaning France is technically now in recession. The contraction in the first three months of this year was the biggest quarterly slump since records began in 1949.