The Bank of France sees growth of 0.4% in the first quarter of 2015.
Are we finally seeing the start of the long-awaited improvement of the economic situation in France? Today’s report from the Bank of France showed that the French economy is expected to reach 0.4% in the first quarter of 2015. T
This figure was stated within its monthly survey of economic conditions these numbers confirm the government’s forecast of up 1% for 2015. This goal was validated by Brussels last week.
Good news for the ever-optimistic French Prime minister Manuel Valls who estimated that France would ‘probably’ exceed the 1% growth. This was a belief he has since reaffirmed.
INSEE (the French equivalent of the UK’s Office of National Statistics) anticipates share growth of 0.3% in the first quarter of 2015 following an increase of 0.1% of gross domestic product for the fourth quarter 2014.
The official figure for growth of the last quarter of 2014 will be announced this Friday.
Another study by the Bank of France in January showed an increase of one point in the business climate indicator for the industrial sector. The building sector indicator was down one point to 90. For the industrial sector, the business leaders surveyed reported a sharp increase in production and deliveries, especially in chemistry, pharmacy and transportation equipment, including automobiles.
Business leaders expect a further increase in production in February.
In the services sector, activity increased “slightly”, the numbers are stable and prices continue to fall.
In construction, the production sales deteriorated again and the numbers continue to fall, with falling prices largely to blame. Business leaders expect a further reduction in their activity in February.