The French economy likely retained its growth momentum in the fourth quarter, latest projection from the Bank of France indicated on Monday.
Gross domestic product is set to grow 0.4 percent in the fourth quarter of this year, the Bank of France projected in its latest monthly business survey report. This is the first estimate by the bank.
The pace of growth accelerated to 0.4 percent in the third quarter from 0.2 percent in the second quarter, largely underpinned by domestic demand and exports.
The survey also showed that the manufacturing business confidence index eased to 103 in October from 104 in September. Morale in the services sector was unchanged, while confidence improved in the construction sector.
Manufacturers expect industrial activity to increase somewhat more rapidly in November, the survey said. Service sector expansion is expected to remain at the same pace, while construction growth is forecast to slow.
The material has been provided by InstaForex Company -
www.instaforex.com