The Banque de France raised its near-term GDP forecast after June activity
improved across sectors, saying its monthly business survey and recent hard data
show Q2 output rose 0.2%. The bank had previously flagged stagnation, which
after a Q1 contraction risked leaving the economy close to recession. It said
industrial activity strengthened markedly in June and services and construction
have been recovering since May, easing some pressure on the government's efforts
to rein in the budget deficit.
