BANK OF FRANCE SEES CONTINUED INDUSTRIAL PICKUP

  The Bank of France expects a continued
  revival in short-term industrial activity, but the outlook for
  any improvement in France's record 10.9 pct unemployment rate
  remains bleak, the Bank of France said in its monthly review.
      The upturn in activity in all industrial sectors except the
  agro-food sector in February more than compensated for the fall
  in January, while construction and civil engineering
  experienced a recovery which appears likely to extend over the
  next few months.
      Internal demand rose and the export situation improved, in
  particular toward the European Community (EC), the Bank said.
      Stocks decreases and order book levels, with the exception
  of the agro-food industry, improved substantially.
      In addition, retail prices and salaries stabilised last
  months.
      Production rose in all sectors except agricultural
  machinery and aeronautics, where it stabilised, and ship
  construction, where it declined.
      The car industry was the major beneficiary of the upturn in
  activity in February, with both domestic and export orders
  rising.
      In the consumer goods sector, actitity rose sharply despite
  a fall in the household goods sector and stability in
  pharmaceuticals.
      Among semi-finished products, output rose sharply, helped
  by a strong growth in construction materials.
      But activity in the retail sector declined slightly over
  the past two months.
  

