Arab Today, arab today france\s central bank sees boosted growth in q4
Last Updated : GMT 18:31:22
Arab Today, arab today
Arab Today, arab today

France\'s central bank sees boosted growth in Q4

Arab Today, arab today

Arab Today, arab today France\'s central bank sees boosted growth in Q4

Paris - XINHUA

French central bank (BdF) said on Monday it was increasing by 0.1 point percentage its quarterly economic growth forecast on boosted industrial activities. The bank's monthly report showed that growth of eurozone's second largest economy to quicken by 0.5 percent during the last three months of the year. The BdF said industrial production and deliveries witnessed a significant growth mainly in the agri-food, chemicals, pharmaceutical and automobile sectors. At the end of November, the capacity utilisation rate stood at 76.7 percent, up by 0.3 point percentage for the third consecutive month with "order books were deemed more satisfactory," thanks to boosted orders. Based on businessmen sentiment, the bank expected industrial activity to remain stable in the coming weeks while services will register modest improvement, after they had risen slightly last month, mainly due to a growth in IT and transport activities. The index for the industrial sector rose to 101 in November above its long term average of 100 and that of services lost one point to 92. In 2013, the government expects the French economy to bounce back with the help of government packages worth 37 billion euros (50.76 billion U.S. dollars). They hoped GDP would inch up by 0.1 percent from a zero growth reported in 2012. (1 euro = 1.372 U.S.dollar)

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