France's central bank lowers quarterly growth estimate to 0.1%

France was on path to witness a 0.1-percent economic growth in the third quarter of this year, the central bank Banque de France (BdF) said on Tuesday, revising down its previous estimate of 0.2 percent. The bank's monthly business survey showed improved output in the majority of industrial sectors with the exception of the food processing and automobile businesses, and order books gained ground but remained below normal levels. As to services, "activity rose slightly, particularly in the information-communication and temporary work sectors. However, the hotel and catering sector saw a decline in activity," the BdF said. The business sentiment indicator in industry and services was unchanged at 97 and 93 points respectively. In 2013, the Socialists expect the French economy to bounce back with the help of government packages worth 37 billion euros (50.3 billion U.S. dollars). They hoped GDP would inch up by 0.1 percent from a zero growth reported in 2012.