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Bank of France sees Q4 growth at 0.3 pct, down 0.1 pct

Xinhua, December 8, 2015 Adjust font size:

Growth of French economy, eurozone's second largest, was set at 0.3 percent during the last three months of the year, lower than a previous estimate of 0.4 percent, a monthly report released by French central bank showed on Tuesday.

The Bank of France (BdF) said industrial production slowed in November despite boosted chemicals and metalworking activities while deliveries rose slightly.

Last month, the capacity utilisation rate stood at 77.8 percent.

Based on businessmen sentiment, the bank expected industrial activity to inch up in the coming weeks while services will gain ground after they had risen "at a more moderate pace than in previous months," mainly due to tepid performance of services related to households such as hotels, catering and leisure activities following the November 13 attacks.

In its biannual projections, the Bank of France estimated a 1.2 percent rise in French national output this year based on a favorable global climate mainly in oil and a weak euro, in addition to expansionary monetary policy in the euro area.

The bank predicted the growth of the eurozone's main powerhouse would stand at 1.8 percent next year and 1.9 percent in 2017. Endit