PARIS (Reuters) – The French economy should post weak growth in the third quarter thanks to the manufacturing industry, energy and market services, the Banque de France estimated on Tuesday in its monthly economic survey.
“Over the entire third quarter of 2023, we estimate that the volume of GDP (gross domestic product) would increase slightly, from 0.1% to 0.2% compared to the previous quarter,” declares the central bank on the based on a survey of 8,500 companies questioned between August 29 and September 5.
The manufacturing industry will be supported in particular by the transport equipment sector which will benefit from a catch-up effect linked to the end of disruptions in value chains, notes the Banque de France.
According to the survey, 17% of industrial companies and 10% of construction companies reported supply difficulties in August, compared to a peak of 64% and 54% respectively in April 2022.
The reopening of nuclear power plants after maintenance shutdowns will benefit the energy sector while the services sector will show “good resilience”, adds the central bank.
(Leigh Thomas, Jean-Stéphane Brosse, edited by Blandine Hénault)
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