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French central bank sees Q3 GDP growth at 0.3% in first estimate

French central bank

France’s economy will expand 0.3 per cent in the third quarter, returning to growth after stalling in the previous three-month period, the Bank of France said on Monday in its first estimate for the period.

The central bank gave its estimate in its monthly business climate survey, in which it said industrial sector confidence picked up slightly in July, increasing by one point on the previous month to 98.

However confidence within the services sector dipped by a point to 96.

French economic growth stalled unexpectedly in the second quarter due to weak consumer spending and investment in a blow to President Francois Hollande’s assertions that the economy is getting stronger.

Paul

The author Paul