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French central bank sees Q3 GDP growth at 0.3%, estimate unchanged

Thursday, September 8, 2016 - 14:54

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France's economy will expand 0.3 per cent in the third quarter, returning to growth after stagnating in the previous three-month period, the Bank of France said on Thursday, keeping its estimate unchanged for the period.

[PARIS] France's economy will expand 0.3 per cent in the third quarter, returning to growth after stagnating in the previous three-month period, the Bank of France said on Thursday, keeping its estimate unchanged for the period.

The central bank gave its estimate in its monthly business climate survey, in which it said its industrial sector confidence index remained unchanged in August at 98.

Confidence in the services sector also stagnated at 96.

However, confidence in the long-suffering construction sector improved, rising by one point to 98, the highest since Oct 2011.

Business executives in all three sectors expected activity to rise in September, the central bank said.

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.

REUTERS

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