Bank of France maintains French Q2 GDP growth forecast at 0.5%

[PARIS] The Bank of France on Monday maintained its earlier estimate for second-quarter French gross domestic product (GDP) growth of 0.5 per cent, and forecast a pick up in the services and construction sectors for June.

The central bank's business climate survey for the manufacturing industry gave a reading of 105 points, stable compared to the April reading, which was revised up to 105 points as well for the highest level in six years.

Its business climate indicator for the services sector stood at 101 points in May, stable compared to the April level which was also revised up to 101 points.

The Bank of France added that business leaders expected the construction and services sectors to improve in June, although a slower pace of growth was expected for industrial production.

REUTERS