January 11, 2018 / 7:45 AM / a year ago

Bank of France reports improvement in services and industrial sectors

PARIS, Jan 11 (Reuters) - The Bank of France reported on Thursday improvement in the country’s services and industrial sectors and confirmed it had raised slightly its overall forecast for fourth-quarter economic growth.

The business climate indicator for the industrial sector rose to 110 points in December from 106 in November, marking its highest level since February 2011.

The climate indicator for the services sector edged up to 103 points in December from 102 in November, marking its best level since May 2011.

The central bank said it expected fourth-quarter gross domestic product growth of 0.6 percent - something flagged earlier on Wednesday evening by Bank of France governor Francois Villeroy de Galhau.

Villeroy de Galhau said on Wednesday the Bank of France now expected annual economic growth for 2017 of 1.9 percent, compared with a previous forecast of 1.8 percent - in line with a similar estimate from national statistics agency INSEE.

Economic growth of 1.9 percent would mark France’s best growth rate since 2011. (Reporting by Sudip Kar-Gupta, editing by Larry King)

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