France lowers Q1 growth forecast to 0.3 percent

(MENAFN) The French Central Bank announced lowering the growth rate forecast for the first-quarter period of this year by 1 percent to reach 0.3 percent, Xinhua reported.

In its second quarterly estimate, Banque de France (BdF) noted a slight rise in industrial activity in February on the back of a strong performance from automobile industry.

Last month, services activity rose significantly, driven in particular by the temporary work, consulting and publishing sectors. In the short run, the sector should bolster its performance.

Meanwhile, the business sentiment indicator in industry fell to 96 in February, while services rose to 92. France wants to accelerate growth to 1 percent this year compared to 0.4 percent in 2014.