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- Bank of France lowers its growth forecast for the third quarter
Bank of France lowers its growth forecast for the third quarter
The Bank of France lowered its growth forecast for the third quarter on Thursday. The French economy is expected to expand 0.2% in the third quarter, down from the previous estimate of a 0.3% growth.
The downward revision was driven by a weaker industrial output.
The Bank of France's business sentiment index for the industry sector declined to 97 in September from 98 in August.
"Production of transport equipment, and notably automobiles, declined after several months of growth. Most of the other sectors remained flat or saw modest growth," the central bank said.
The Bank of France's business sentiment index for the services sector was up to 97 in September from 96 in August.
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