'There are a few reasons which make us think that it is not unreasonable to hope for an end to the recession by the end of the year, ' he said.
Positive growth could creep in at the end of 2009 and be a factor next year, on average, as lower inflation boosted consumption and the effects of monetary policy actions, namely lower interest rates, by the world's central banks were felt.
Moves by many countries to ease monetary policy were already having an impact on the real economy, he said.
Conditions of financing and the property market in France were sound, he said, reiterating that the euro zone's second-biggest economy had emerged relatively well thanks to more conservative lending practices to would-be house buyers.
