The Bank of France slashed its first-quarter economic growth forecast, based on monthly business activity indicators in March, MarketWatch reported.
French economy is seen to have expanded by 0.3% on a quarterly basis, the central bank said. The Bank of France said that annual growth forecasts are not likely to be weighed down by the insignificant downward revision of the quarterly growth.
Later this month, French statistics body INSEE will unveil its report on the country’s GDP growth in the first quarter of 2017.
The Bank of France's business sentiment indicator in industry declined to 103 in March from 104 in February. In services and construction sectors, the indicators were stable at 101 and 102, respectively.
