Bank Of France Still Sees Q4 GDP Growth At 0.2%

France's economic growth is expected to slow slightly in the fourth quarter, the Bank of France reiterated Monday.

The bank retained its GDP growth estimate for the final three months of 2019 at 0.2 percent, which is slower than the 0.3 percent expansion in the third quarter.

Survey data from the bank showed that the business confidence index for the manufacturing sector eased slightly to 97 from 98 in October.

Production stabilized with agri-food and aeronautical sectors posting robust growth, while the automobile sector activity shrank. Order books shrunk. Manufacturers expect output growth to be weak in December.

The confidence index for services edged up to 99 from 98 in October. Activity continued to grow, at a stable rate, and the biggest gainers were accommodation and food services, transport and publishing. Temporary work logged a sharp decline, while staffing levels continued to grow at a healthy pace.

Services firms expect activity to grow at a stronger rate in December. The sentiment indicator for the construction sector eased to 104 from 105 in October. Constructors expect the sector to grow at the same pace in December.

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