February 7, 2017 / 8:11 AM / 3 years ago

French manufacturing bosses grow more sanguine on investment plans

An employee uses a sewing machine as she works at the Royal Mer Bretagne factory, specializing in French manufactured knitted clothes, in La Regrippiere, western France, November 28, 2016. REUTERS/Stephane Mahe

PARIS (Reuters) - Executives in France’s manufacturing industry said they expected to increase investments by 5 percent this year, sharply up from stagnation signalled for 2017 in the last survey in October, national statistics office INSEE said on Tuesday.

For 2016, executives said they had increased investment by 4 percent, slightly lower than the 5 percent they had reported as being planned for in the last survey.

This year’s more ambitious investment plans are good news for the French economy at a time when many wonder whether uncertainty over the presidential election in April and May could weigh on a firming recovery in the euro zone’s second-largest economy.

Reporting by Michel Rose; Editing by Sudip Kar-Gupta

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