“The French economy confirms, month after month, a certain resilience”, estimates the governor of the Bank of France

According to the Banque de France, in October, activity increased in industry, services and construction.

“The French economy confirms, month after month, a certain resistance, a certain resilience”estimated Wednesday November 13 on France Inter the governor of the Bank of France François Villeroy de Galhau, the day after the publication of the latest monthly economic survey of the Bank of France.

After surveying 8,500 business leaders, the Banque de France notes that in October, activity increased in industry, services and construction. “The landscape is neither black nor uniformly pink”underlines the governor. “There is a kind of underlying resilience”he assured, specifying that“There are at least as many companies that plan to lower their prices as those that want to raise them. This means that inflation will remain moderate”.

“It also means that prices are now growing less quickly than wages and that we, at the Central Bank, will be able to lower interest rates”he continued. “In June we were at 4%, today we are at 3.25%”he recalled, stressing that the fall in interest rates will continue. “We will not return to the exceptionally low interest rates that we had at the time of Covid”he warned.

However, the level of uncertainty among business leaders remains high, particularly “around the budgetary and tax debate in France” et “the action of future American policy”observes François Villeroy de Galhau.