11.03.201910:23:00UTC+00Bank Of France Lowers Q1 Growth Estimate To 0.3%

The Bank of France on Monday revised its growth estimate for the first three months of the year to 0.3 percent from 0.4 percent predicted earlier.

The survey data from the bank showed that manufacturing business confidence improved to 101 in February from 99 in January.

The confidence indicator for the services sector was unchanged at 101 and that for construction was steady at 105.

Production rebounded mainly in IT products, chemicals and machinery and equipment in February and order books stabilized.

Manufacturers expect industrial activity to continue to growth at the same pace in March and services firms and constructors are also looking forward to sustained growth.