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Bank Of France Sees GDP Growth Rising To 0.4% In Q1

French economic growth is set to gain steam in the first three months of this year, the projection from the Bank of France indicated Monday, as domestic demand recovers from the disruptions to activity caused by the "yellow vests" protests in the fourth quarter of 2018.

Bank of France on Monday predicted 0.4 percent growth for the French economy in the first quarter of this year, which is slightly faster than the 0.3 percent expansion in the final three months of 2018.

Fourth quarter expansion was largely driven by foreign trade that added 0.2 points to GDP growth. Domestic demand contributed just 0.1 points to GDP growth in the fourth quarter.

The average growth rate for 2018 was 1.5 percent, which was much slower than the 2.3 percent logged in 2017.

The Bank of France survey also showed that the business confidence indicator for the manufacturing industry fell to 99 in January from 102 in December.

The confidence measure for the services sector eased to 100 from 101, while the index for construction remained unchanged at 105.

Business leaders expect industrial production and services activity to pick up in February. The construction sector is also expected to continue growing.

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