Bank of France reaffirms Q4 GDP forecasts at 0.4 pct

French central bank on Thursday reaffirming an prelim GDP growth forecast made last month that France's economy will expand by 0.4 percent in the fourth quarter.

The Bank of France said that the country's economy is slowly picking up speed, adding that the business sentiment indicator for the manufacturing industry rose to 101 in November from 99 in October.

The business sentiment indicator for the services sector also increased to 100 in November from 98 in October, marking its highest reading since July 2011. There was also a pick-up in sentiment for construction, with the business sentiment indictor for that sector rising to 100 in November from 99 in October.

Industrial production increased again in November and order books improved on domestic and foreign demand. The central bank added that business leaders expect more marked growth in industrial production for December, and for a further rise in December for the services sector, albeit at a more modest pace.

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