French fourth quarter growth revised to 0.6pc

15th November 2004, Comments 0 comments

PARIS, Nov 15 (AFP) - A Bank of France survey of business leaders points to French economic growth of 0.6 percent in the fourth quarter, revised down by 0.1 percentage point, with growth over the full year seen at 2.2 percent, the bank said on Monday.

PARIS, Nov 15 (AFP) - A Bank of France survey of business leaders points to French economic growth of 0.6 percent in the fourth quarter, revised down by 0.1 percentage point, with growth over the full year seen at 2.2 percent, the bank said on Monday.

The full-year estimate was subject to confirmation of French statistics office INSEE's third-quarter gross domestic product growth estimate of 0.1 percent.

The French central bank's business sentiment indicator fell to 103 points in October from 105 in September.

French industrial production stabilised in October after a sharp rebound in September, according to the survey, conducted in October.

The flow of new orders slowed on domestic and foreign markets in October, while order books remained above levels seen as normal.

Inventories of final goods were satisfactory, according to the survey. Commodity prices continued to rise in most sectors, while final goods remained stable and staff levels were little changed.

The outlook for production was positive across the board.

Retail activity flagged in October and rose slightly over one year, while wholesale trade grew compared with September and a year earlier.

The outlook for wholesale trade remained favourable.

Separately, an INSEE survey of industrialists in October and released Monday showed that French industrial investment was expected to rise five percent in 2004 after a fall of two percent a year earlier.

A previous survey, carried out in July, pointed to an eight-percent increase in investment in 2004.

The October survey showed investment was expected to decline by three percent in 2005.

© AFP

Subject: French News

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