The Bank of France Thursday upgraded its first quarter growth forecast for the French economy to 0.4% due to the growth in industrial production and stronger foreign demand.

The central bank had cut its forecast to 0.3% in March, down from a previous estimate of 0.4%.

The French economy grew 0.1% in the fourth quarter.

The European Commission forecast that the French economy will increase by 1% in 2015 and by 1.8% in 2014.

The French economy expanded 0.4% in 2014.

The French government has also estimated 1% growth for 2015.