France’s central financial institution revises down quarterly financial progress estimate

PARIS, March 11 (Xinhua) — The Bank of France on Monday revised down its forecast for first-quarter economic growth to 0.3 percent from a previous estimate of 0.4 percent.

The central bank of France said in a report that it expected decelerated economic activities in the second biggest economy in the eurozone as a gloomy outlook in the single-currency bloc tainted by slowing activities and persistent trade risks have offset positive trends reported at home.

Business sentiment in the manufacturing sector increased to 101 points in February, up two points from the previous month, central bank data showed.

The Bank of France projected the country’s economy would grow 1.5 percent in 2019 in a quarterly update of its economic forecasts in December.