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French central bank raises Q3 GDP growth forecast

Banque de France raised its GDP growth forecast for the third quarter to 0.5% from 0.4% after industrial production and service sector activity grew strongly in September.

The bank said industrial production remained strong across much of the sectors in September as deliveries and new orders improved, and is expected to maintain its pace of growth in October. The central bank's business sentiment indicator for the manufacturing industry increased to 105 in September from 103 in August.

Service sector activity also grew rapidly and is expected to accelerate in October, with the sentiment indicator for services rising to 103 in September from 102 in August, according to the bank's latest survey on manufacturing industry, market services and construction.

The business sentiment indicator for construction was 105 in September, up from 104 in August. The construction sector activity grew in both structural and finishing works in September but is expected to grow at a slower pace in October.