July 9, 2018 / 6:39 AM / 3 months ago

Bank of France keeps French second-quarter GDP growth forecast at 0.3 percent

PARIS (Reuters) - The Bank of France on Monday kept its forecast for French gross domestic product (GDP) growth of 0.3 percent in the second quarter and said it expected a general rebound in business activity for July.

The sun sets behind loading cranes in the old harbour of Marseille, France, June 19, 2018. REUTERS/Jean-Paul Pelissier

The central bank’s business sentiment indicator for the industrial sector rose to 101 points in June from 100 in May. Its sentiment indicator for the services sector rose to 103 points in June from 100 in May.

The French economy is showing signs of stalling after a pick-up that followed President Emmanuel Macron’s election in May last year.

The Bank of France said it expected growth in the industrial and services sectors for July, although France’s national statistics office has forecast slower economic growth for this year in the face of a stronger euro, higher oil prices and uncertainty about protectionism.

Reporting by Sudip Kar-Gupta; editing by Jason Neely

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