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Financial News: Bank Of France Trims 2018 Growth Forecast

Bank Of France Trims 2018 Growth Forecast

09/14/2018 - 07:39:00 (RTTNews)

(RTTNews) - The Bank of France on Friday cut its economic growth forecast for this year through 2020 amid the less dynamic and more uncertain external situation.

GDP growth would be 1.6 percent this year, next year and in 2020, the bank said.

Previously, the bank projected 1.8 percent growth for this year and 1.7 percent expansion in 2019.

Sustained growth momentum is expected to contribute to further decline in the unemployment rate, which was projected at 8.3 percent by the end of 2020.

Inflation was expected to peak at 2.1 this year, mainly as a result of energy prices. Thereafter, price growth was forecast to slow to 1.7 percent in 2019 and 1.8 percent in 2020.

Core inflation, which excludes energy and food, was forecast to gradually recover to 1.5 percent by the end of 2020.

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