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Bank of France expects 0.4% Q3 GDP growth


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Bank of France expects 0.4% Q3 GDP growth

France's GDP growth is expected to be 0.4% in the third quarter of 2018, according to the Banque de France's first estimate for the period.

The French economy expanded by 0.2% in the second quarter in volume terms, at the same pace as in the previous quarter, according to the first estimate from the National Institute of Statistics and Economic Studies.

Industrial production growth slowed slightly in July from the previous month but is expected to increase more sharply in August, and service sector activity is also expected to accelerate this month after slowing in July, according to the central bank's latest survey on manufacturing, market services and construction.

The central bank's business sentiment indicator for manufacturing remained stable at 101 in July as industrial production increased in transport equipment manufacturing and pharmaceutical sectors but slowed down in electrical equipment, chemical and wood sectors.

The business sentiment indicator for services fell to 102 in July from 103 in June as activity in the sector slowed from the previous month, particularly in the transport, hotel and catering and temporary work sectors.

The sentiment indicator for construction decreased to 104 in July from 105 in June. Activity in the sector firmed and staff levels edged down, and business leaders expect construction sector activity to slow down in August.