French Economy Improved, says Bank of France

The Bank of France published a report yesterday which showed improvements in the services and industrial sectors of the country, affirming about the slight increase in the long-term economic growth outlook for the last quarter.

The industrial sector business climate indicator increased by 110 points in December versus 106 in November, the current figure is the highest level recorded in February 2011. While the services sector index grew by 103 points in December compared with 102 points in November, showing its best performance during May 2011. Moreover, the central bank of France is expecting that the growth of gross domestic product in Q4 will be at 0.6 percent. However, something had declined on Wednesday evening according to Bank of France governor Francois Villeroy de Galhau.

French Governor Villeroy de Galhau mentioned that the central bank currently anticipates for 1.9 percent annual growth for the previous year versus the recent estimate of 1.8 percent coincided with the projections of INSEE (National Institute of Statistics and Economic Studies). Hence, the 1.9 percent economic growth will mark the best performance of the country since 2011.