Bank of France downgrades 2006 growth forecast

15th November 2006, Comments 0 comments

PARIS, Nov 15, 2006 (AFP) - The Bank of France revised down on Wednesday its forecast for growth of the French economy this year, but said activity would pick up at the end of the year after zero growth in the third quarter.

PARIS, Nov 15, 2006 (AFP) - The Bank of France revised down on Wednesday its forecast for growth of the French economy this year, but said activity would pick up at the end of the year after zero growth in the third quarter.

The central bank forecast growth in gross domestic product of 0.6 percent in the fourth quarter and 2.0 percent over the full year.

Last month, it had forecast growth of 0.5 percent in the fourth quarter and 2.2 percent over the year.

On Friday last week, French statistics agency INSEE had announced that the French economy stagnated in the third quarter, showing zero growth compared with the second quarter.

The surprise announcement spelled bad news for the centre-right government, which was counting on growth of 2.3 percent this year.

Copyright: AFP

Subject: French news

0 Comments To This Article