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Economy

Bank of France: Olympics boost French economy

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France's central bank said GDP is set to grow between 0.35% and 0.45%, compared with growth of 0.3% in the previous two periods

Τραπεζα τησ Γαλ λας: Ολυμπιαγνες δδον θση γαλοικνομiα /></p> <p> photo Shutterstock </p> <p>The Paris Olympics will accelerate the growth of the French economy in the third quarter, according to a monthly survey by the country's central bank.</p> <p>France's central bank said GDP is set to grow between 0.35% and 0.45%, compared with growth of 0.3% in the previous two quarters, thanks to revenue from Games ticket sales and contracts television rights. The full impact on activity has yet to be assessed.</p> <p>The survey of 8,500 companies, conducted between July 22 and August 5, also showed that uncertainty among French businesses has eased after soaring during surprise early parliamentary elections held earlier in the summer. However, it remains higher in the industry and services sectors than before President Emmanuel Macron dissolved the National Assembly on June 9.</p> <p>“It is still too early to see how this uncertainty will affect hiring and investment decisions,” the central bank's chief economist, Olivier Garnier, told reporters on Friday.</p> <p>The survey was conducted after the parliamentary elections which have not yet led to the formation of a government as no party secured the necessary majority. Amid a tumultuous campaign, investors have weighed in on the possibility that parties vowing to roll back Macron's pro-business reforms will gain power.</p> <p>Macron has yet to appoint a new prime minister who can form a government. . Macron said he would wait at least until after the Olympics and called for a compromise between the different parties to form a majority.</p> <p>Despite intense political uncertainty, the eurozone's second-largest economy was on sound footing. , with stronger-than-expected growth in the first half of the year helping to stabilize the outlook for the country's weakened finances.</p> <p>Today's figures from statistics agency Insee showed France's unemployment rate fell to 7, 3% in the three months to June. Economists polled by Bloomberg had expected the rate to remain unchanged at 7.5%. Macron has made “full employment” a key goal of his second term, which ends in 2027.</p> <p><noindex></p> <div class=Source: www.kathimerini.com.cy

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