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French central bank sees Q2 growth rate at 0.3 pct

Xinhua, May 12, 2015 Adjust font size:

The French Central Bank, Banque de France (BdF), said Tuesday the growth rate is expected at 0.3 percent during the second trimester of the year.

For the January-March period, the BdF saw French national wealth at 0.3 percent increase from an initial forecast of 0.4 percent.

At the end of April, French business leaders reported growing industrial production and boosted deliveries thanks to good performance of transport equipments and pharmaceutical businesses.

Over the period, the capacity utilization rate was stable at 76.6 percent while the sector was set "to post further growth in May."

In its monthly economic report, the Central Bank of France said service business "strengthened further thanks to growth in the IT services sector (with) temporary work and consulting continued to improve."

In the short term, the bank estimated a continued improvement in the sector.

The business sentiment indicator in industry gained one point to 98 while that of services stood at 95 points up from 94 recorded in March, according to the bank survey.

For the whole year of 2015, the French government eyes to quicken growth by 1 percent from 0.4 percent in 2014 betting on recovery in the European economy. Endit