PARIS, Nov 12 — The French economy is tipped to grow by 0.2 per cent in the fourth quarter, a slight easing seen also across the wider eurozone, Bank of France data showed today.
The bank’s preliminary forecast put business activity in the second biggest eurozone country at a weaker pace than the 0.3 per cent rate of expansion notched up since January.
On Thursday, the European Union cited uncertainty related to trade conflicts, heightened geopolitical tensions, persistent weakness in the manufacturing sector and Brexit as it slashed its 2019 growth forecast for the entire 19-member eurozone to just 1.1 per cent.
In July, the EU had forecast a slightly higher growth rate of 1.2 per cent.
Based on a monthly survey of business leaders, the French slowdown is likely to result from weaker activity in the construction and industrial sectors, a central bank statement said.
For the entire year, the central bank and the national statistics institute INSEE forecast growth of 1.3 per cent, down from the 2018 figure of 1.7 per cent. — AFP
