Despite worrying economic signals, the Banque de France still wants to be relatively optimistic. If “there is undoubtedly a slowdown” in activity “for several quarters”, “we do not clearly see a risk of recession in France”, estimated the governor of the institution François Villeroy de Galhau this Wednesday on the set of BFM Business. “We don’t even see signs of a widespread turnaround in activity,” he added.
In August, the PMI index – which compares the volume of activity with that of the previous month – registered its third consecutive decline and its “strongest rate of contraction” in almost three years, indicated S
Proof that everything is not so bad, François Villeroy de Galhau confirmed that the Banque de France was going to “raise (its) growth forecast a little for 2023”, until now set at 0.7%. “For what ? “We had a good surprise in the second quarter (0.5%), when we expected much less,” explained the governor. Even if this remains “slowed growth”, but without being a recession, he insisted, further observing that the French economy was resisting “rather better” than other European economies.
