Bank of France lifts GDP outlook; business confidence improves
2013-07-08 11:28:51
The Bank of France on Monday lifted growth outlook for the second quarter to 0.2 percent from 0.1 percent.
A monthly survey showed that business sentiment improved in June as production in most sectors returned to growth. Moreover, the pace of foreign orders accelerated on the back of stronger demand from abroad. Business managers are expecting a further rise in activity in July.
The business confidence index in manufacturing rose to 96 from 94 in May. At the same time, confidence in services gained marginally to 90 from 89 in prior month.
Services activity posted a slight increase in June, but managers forecast a recovery in activity in July.