PARIS (Reuters) – The French economy is expected to post growth of 0.1% in the fourth quarter and escape recession after a decline of 0.1% in the previous quarter, thanks to growth in services and secondary construction. building, the Banque de France (BdF) announced on Monday in its monthly economic survey.
A recession is defined by two successive quarters of GDP contraction.
In November, the BdF anticipated fourth-quarter growth of between 0.1% and 0.2%.
“According to the business leaders participating in our survey (…), activity continued to progress in November in commercial services and building finishing work, but changed little in industry and declined in structural work. “, notes the BdF in its survey carried out among around 8,500 companies.
“We estimate that GDP would increase slightly by 0.1% in the fourth quarter, (…) supported by market services,” she adds.
The moderation of sales prices continues, since the prices of raw materials continue to decline and the prices of finished products are considered practically stable.
The BdF also included in its monthly survey questions on extreme weather events, which were numerous in November, and which mainly affected construction and the rubber-plastic and agri-food sectors. Conversely, automobile repair benefited from stronger demand, with many vehicles having been damaged.
(Written by Corentin Chappron, edited by Kate Entringer)
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