Bank of France sees resilience despite Iran crisis
French industry supported April growth despite rising energy costs. Activity may level off in May as Middle East tensions create significant economic uncertainty.
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The Bank of France reported that industrial activity expanded in April, though pervasive uncertainty from the conflict in the Middle East slowed overall growth. While defense-linked sectors buoyed output, the central bank withheld its quarterly GDP estimate due to extreme volatility in energy costs. Rising energy costs and transport expenses are squeezing margins in services sectors.
