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19/05/2008French growth to slow to 0.3% in Q2

Central bank estimates that growth of the second quarter is set to grow by 0.3 percent, just half the growth of the first quarter.

19 May 2008
   
PARIS - The French economy is set to grow by 0.3 percent in the second quarter of the year, the Bank of France estimated on Monday, just half the growth of the first quarter.
   
The bank said in its initial estimate that after 0.6-percent in the first quarter as reported last week by the INSEE statistics institute, 0.3 percent in the second quarter would assure growth of at least 1.6 percent this year, barring recession.
   
The government had initially counted on growth this year of 2.0-2.5 percent but is now expecting 1.7-2.0 percent because of the international financial crisis of the last eight months.

[AFP / Expatica]


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