By Geraldine Amiel
PARIS--France's gross domestic product should contract 0.1% in the
third quarter from the second, according to a preliminary forecast
released Wednesday by the French central bank.
In its monthly report for July, the Bank of France said that
industrial activity in France posted a slight fall due mainly to lower
levels of activity in the automotive and textile sectors and that the
capacity utilisation rate fell slightly but remained below its
long-term average.
Order books lightened and inventories of finished goods closed the
month at slightly higher than targeted levels, the central bank said,
adding that prices remained stable.
"The outlook for the coming months suggests a slight slowdown in
economic activity," the central bank said.
As for the services sector, activity remained stable in July with
staff levels slightly higher while prices remained stable, the central
bank said.
"The outlook points to stable activity over the short term" in the
services sector, the Bank of France added.
-Write to Geraldine Amiel at geraldine.amiel@dowjones.com
(END) Dow Jones Newswires
August 08, 2012 02:59 ET (06:59 GMT)
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