In its monthly economic report, the BdF said French industrial businesses were stable at the end of April with "the declines in the automotive industry, the metal and metal product and rubber and plastic product sectors were offset by stability or growth in other sectors." The capacity utilization rate fell slightly to 78.3 percent below its long-term average, and the industrial sector was set to decline over the coming months, it said. Thanks to good performance of hotel and catering business, publishing and technical engineering sectors, services continued to expand at a pace comparable to that of March. However, the bank pointed to eventual slight slowdown in the sector. The business sentiment indicator in industry and services remained unchanged at 95 and 93 respectively. In previous reports, Banque de France maintained zero growth forecast during the first three months of the year pointing to growing risks of a recession in the eurozone's second largest economy. Facing renewed … [Read more...] about French central bank sees zero GDP growth in Q2
Gdp growth france
OECD area GDP growth remains diverging in Q1 2012
This growth, however, continued to mask diverging patterns among the 34 members of the Organization for Economic Cooperation and Development (OECD). Japan, Germany and the United States have respectively experienced a growth rate of 1 percent, 0.5 percent and 0.5 percent. But economic activity remained weak in the euro area and the European Union (EU) as a whole. In Europe, Italy saw the third straight quarter of contraction, with GDP falling 0.8 percent, while in Britain, GDP decreased by 0.3 percent for the second consecutive quarter. In France, GDP leveled off in the first quarter of 2012. On the year-on-year basis, GDP growth increased by 1.6 percent in the first quarter of 2012 in the OECD area. Among the major seven OECD economies, Japan recorded the highest growth rate at 2.6 percent, followed by the United States at 2.1 percent, while Italy posted the lowest growth rate by minus 1.3 percent./. … [Read more...] about OECD area GDP growth remains diverging in Q1 2012
High GDP growth easy, but not sustainability: economist
A worker checks quality of jeans in a garment factory in Ho Chi Minh City With gross domestic product estimated at US$322 billion in terms of purchasing power parity (PPP), the Vietnamese economy ranks 42nd in the world and sixth in Southeast Asia behind Indonesia, Thailand, Malaysia, the Philippines, and Singapore. It is not difficult for the country to go back to 7-8 percent growth, but sustainable growth is another thing altogether, economist Nguyen Minh Phong tells Vietweek. Vietweek: How do you assess Vietnam's ranking? Nguyen Minh Phong: This shows Vietnam's economic scale and economic development potential in comparison with the rest of the world. Vietnam used to be in the latter half of the world rankings in many areas. In economic scale, we are now in the top half of the rankings. This is very positive. Vietnam could do more to improve its ranking. The average income is still low and the economy is still weak. Isn't it because of our large population that the … [Read more...] about High GDP growth easy, but not sustainability: economist
Loans secure sustainable growth
Government debts are high on the agenda at the National Assembly 2011 second session, currently underway in Hanoi. Nguyen Thanh Do, head of the Debt Management and External Finance Department at the Ministry of Finance, sheds some light on Vietnam’s public debt situation. Many National Assembly deputies assumed Vietnam’s current public debt was fairly high. Is that the case? The ‘safe public debt rate’ concept varies worldwide. The EU regulates public debt levels under 60 per cent of gross domestic product (GDP) are safe; for Japan, safe means lower than 200 per cent of GDP, and for South American countries this figure ranges from 40–50 per cent of GDP. The US and some other countries, meanwhile, do not regulate a public debt rate over GDP, but have regulations on ceiling public debt rate. Though the future ceiling public debt rate for Vietnam has not yet been defined, the prime minister has set the ceiling for government and foreign debt at 50 per … [Read more...] about Loans secure sustainable growth
Vietnam, France aim for dynamic trade deals
This requirement was stated by both Vietnamese and French representatives at a press briefing in Hanoi on November 25 to review the outcomes of a recent meeting of the High-level Council for Vietnam-France Economic Cooperation Development (HCDCE). The meeting was co-chaired by Vietnamese Deputy Minister of Planning and Investment Cao Viet Sinh and French Foreign Trade Secretary of State Pierre Lellouche. Minister Cao Viet Sinh said two-way trade turnover between Vietnam and France has reached US$2 billion so far this year, noting that France has 305 projects with a total capital of US$3 billion. Pierre Lellouche noted that the French government and businesses were pleased with frankness discussion at the meeting. He said he was impressed by Vietnam’s GDP growth rate of 7 percent, and especially the country’s bilateral trade turnover over the past two years which has increased remarkably – by nearly 30 percent. However, he pointed out that the French market share in … [Read more...] about Vietnam, France aim for dynamic trade deals