France's Q4 growth estimated at 0.5 pct: central bank

2017-11-10 10:01

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France's central bank, Banque de France (BdF), predicted on Thursday that growth in the eurozone's second largest economy will rise by 0.5 percent over the last quarter of 2017.

In its quarterly forecast, the bank noted that "industrial production accelerated in October, proving particularly dynamic in the metallurgy, chemicals and automobile industries."

Order books reached their highest level since 2008 with the capacity utilization increased to 80.6 percent, the bank's data showed.

Based on business leaders' sentiment, BdF expected industry output to report similar performance this month.

As to services, the bank noted a rise in the sector which is set to register a tepid increase in November.

Last month, the business sentiment indicator in industry gained one percentage point to 106 while that of services stood at 102, up by one point. Both sectors hit six-year high.

The French government eyes to quicken growth by 1.8 percent this year from an initial target of 1.7 percent due to improved economic activities at home and in the eurozone.
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