French GDP forecasts

PARIS: France’s central bank on Friday lowered its economic growth forecasts for 2016 to 1.4 per cent from a previous estimate of 1.8 per cent and for 2017 to 1.6 per cent from an anticipated 1.9 per cent. At the same time the Banque de France kept its growth forecast for this year at 1.2 per cent. “The outlook for a pick-up in activity and inflation remains subject to downside risks,” the bank said in a statement, adding that the downward revisions were due to a slowing in global economic growth and potentially weaker business investment than expected.