French central bank forecasts economy to grow 0.4 pct in Q1

France's central bank on Friday revised up its forecast for French economic growth to 0.4 percent for the first quarter, saying expected boost in industrial activities would help the eurozone's second biggest power to record positive economic performance.

The Bank of France (BdF) in its updated estimate for the country's gross domestic product (GDP) said industrial production and deliveries rose in March on growing chemical and pharmaceuticals businesses, with the capacity utilization rate stable at 78.2 percent.

With increased orders, French business leaders expected an increase in industrial sector in April, according to BdF.

For services sector, BdF forecasted a growing activity in the short term but at lower pace than March performance. Enditem