Bank of France keeps French Q4 GDP forecast unchanged at 0.3%

[PARIS] The Bank of France kept its estimate of French economic output growth for the fourth quarter unchanged at 0.3 per cent on Tuesday, proving more upbeat than national statistics office INSEE, which had revised its own estimate down to 0.2 per cent.

The central bank gave the estimate in a monthly business sentiment survey which showed the index for morale in the industrial sector rose to 99 in December from 98 in November, back to where it was in October.

The survey also indicated that sentiment in the service sector, which had taken a hit from the Nov 13 attacks in and around Paris, had remained stable in December at 96.

In a positive sign for future growth, the bank said the heads of companies surveyed in both sectors as well as those in the construction industry expected activity to expand in January.

REUTERS