French firms largely weathered the Middle East conflict shock, with activity still growing in April per a Bank of France survey of ~8,500 firms (April 28‑May 6).
Industrial output, especially defense‑related aeronautics, electrical equipment and electronics, drove growth, while construction slowed and services halted.
Companies kept capacity utilization near long‑term average, but higher oil prices and raw‑material costs raise uncertainty and compress transport‑logistics margins.
Bank of France could not provide its standard quarterly growth estimate due to heightened economic uncertainty.