French Fin Min: Economy Showing Positive Signs

PARIS (Dow Jones)--French finance minister Christine Lagarde said Wednesday that the French economy was starting to show positive signs.
"We have some positive signs," Lagarde said during a press conference, citing the example of the car manufacturing industry that has benefited from the European governments' car scrapping schemes, and also the real estate industry.
Lagarde also confirmed the comments made earlier by French prime minister Francois Fillon who said that the economy is likely to contract 2.5% in 2009 and the government is expecting a slow recovery in 2010.
Speaking on French radio France Inter, Fillon said 2009 will be a year of strong recession, adding that France should nevertheless fare better than its peers.
Also, French budget minister Eric Woerth said Wednesday there are elements showing a recovery is on the way, though these signs remain quite modest for now.
Speaking in an interview with French radio Europe 1, Woerth cited as examples the fact that foreign trade has started to pick up while the fall in industrial production has slowed.