July 8, 2019 / 6:44 AM / 2 months ago

French central bank trims second-quarter growth estimate to 0.2%

PARIS (Reuters) - The French economy likely grew slightly less quickly than previously thought in the face of a sharp slowdown in manufacturing activity last month, the French central bank said on Monday.

The Bank of France estimated the euro zone’s second-biggest economy grew 0.2% in the second quarter, revising down from 0.3% previously.

The central bank gave the estimate in its monthly business sentiment survey, which showed that confidence in the export-exposed manufacturing sector plunged amid global trade tensions.

The indicator for the sector fell in June to 95 points from 99 in May, hitting the lowest level since mid-2013. However, business managers surveyed indicated that the expected activity to improve in July.

In the dominant service sector, confidence was unchanged in June from May at 100 and managers indicated they expected business to pick up this month.

Confidence in the construction sector slipped to 104 from 105 amid unfavourable weather conditions for the sector, but managers said they expected a pick-up this month.

Reporting by Leigh Thomas; Editing by Geert De Clercq

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