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French growth on track despite latest COVID surge -central bank -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – People have lunch in a restaurant deserted by Le Petit Chatelet in Quartier Latin, France as the country fights to contain coronavirus (COVID-19), while also ensuring economic and social activity can continue. This was September in Paris.

PARIS (Reuters) – French economic activity has held up in the last month despite recent COVID-19 epidemics, according to the central bank on Tuesday.

Based on its most recent monthly survey of 8,500 French businesses, the Bank of France calculated that this month’s economic activity stood at +0.75% of prepandemic levels. It was unchanged from December.

France’s COVID-19 infection rate has increased in recent months. The omicron version of coronavirus, which is now the dominant variant, saw new cases at record numbers. This led to the government tightening its health controls.

In its most recent short-term outlook it stated that 0.6% of the country’s economy was growing in the fourth quarter of 2021. It also indicated that 6.7% of its full-year growth forecast was probable.

According to the bank’s prediction, with businesses expecting stability in January, which is carried over from December and the economy still aims for the 3.6% economic growth for this year.

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