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France's economy is set to expand at a slower rate in the fourth quarter than estimated earlier, survey data from Bank of France showed on Monday. The bank revised down its growth forecast for the fourth quarter by 0.2 percentage point to 0.2 percent.
The survey showed that the confidence index for the French manufacturing industry fell to 101 in November from 102 in October. The services confidence index was unchanged at 102 and the construction morale index was steady at 105. Business leaders expect growth to improve in the industrial and service sectors in December, while expansion was forecast to remain moderate in the construction sector.
