A pace close to that observed in the previous quarter ( +0.3%), after +0.1% in the first quarter, indicates the institution in its monthly conjuncture survey.
The French economy should continue to progress in the third quarter with gross domestic product growth (GDP) estimated at 0.3%, according to estimates from the Banque de France on Monday.
According to these anticipations and on the basis of other indicators, the growth of GDP in the third quarter should increase at a rate close to that observed in the previous quarter ( +0.3%), after +0.1% in the first quarter, said the Banque de France in its monthly conjuncture survey.
In the second quarter, the increase would therefore be significantly higher than previous forecasts from the Banque de France (+0.1%). The activity has notably been drawn by the merchant services sector, in particular accommodation-restaurant and business services.
On the other hand, it has slowed down in the manufacturing industry and further fell into the energy sector.
Uncertainties in industry
For industry and building, activity has progressed at a higher rate than anticipated by business leaders in July, supported by transport equipment and equipment.
This trend should continue in August according to the responses of some 8,500 companies or establishments interviewed which must be analyzed with “more precaution due to the holidays”, notes the Banque de France. In merchant services, activity should evolve little with strong disparities depending on the sub-sectors in August, we can read.
The monthly uncertainty indicator based on the analysis of companies’ responses continues to fall back in the three sectors (industry, building, service). In the building, it has reached its lowest level since the COVID-19 period.
However, it remains high in industry, compared to services and building, the consequence of a stronger exhibition in this sector internationally, and in particular to uncertainties linked to new American customs prices
Regarding the supply difficulties reported by companies, they remain generally stable in July compared to the previous month (8% of companies mention them).
