By Xavier Fontdegloria 

Sentiment in the French manufacturing sector stabilized in June after rising for six consecutive months amid the easing of pandemic-related restrictions.

Manufacturing sentiment stood at 107 in June, unchanged from May, the French national statistics office said Thursday. The reading is below economists' forecast of 110 in a poll conducted by The Wall Street Journal.

Respondents were more optimistic about orders books and the general outlook for production, while views' on past production deteriorated, Insee said. The expected evolution of selling prices reached a record high.

France's economy contracted 0.1% in the first three months of the year, but economic growth is set to have accelerated sharply in the second quarter as Covid-19 restrictions were unwound. The French government expects the country's gross domestic product to grow by 5% this year.

 

Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com

 

(END) Dow Jones Newswires

June 24, 2021 03:02 ET (07:02 GMT)

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