French central bank cuts Q2 economic growth forecast
The bank cited weaker industrial production as the main reason behind their downwardly revised growth estimate for the April- June period. In May, France’s industrial output fell 0.9% on the month after declining 0.3% in the previous month.
Meanwhile, the bank expects the French economy to grow by 1.2% this year, up from the government’s growth estimate of 1%. For 2016 and 2017, the BdF predicts that the economy will expand by 1.8% and 1.9%, respectively.
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