French economy set to grow 0.1%

The French economy is set to show slight growth of 0.1 percent in the second quarter of this year, the Bank of France said in a first estimate on Monday. The bank issued the estimate alongside its review of the situation for services and industry at the end of April. The separate national statistics institute INSEE is to publish on Wednesday its estimate of economic activity in the first quarter of this year, but has already said that the economy began the year on a trend of zero growth. The European Commission has estimated that the French economy will contract by 0.1 percent in the whole of 2013. The French government is holding to its forecast of growth of 0.1 percent in 2013. The data from the Bank of France indicated that the climate for industrial activity improved slightly in April to a reading of 84 on its monitor from 83 in March, and that the reading for the services sector was steady at 88.