The Bank of France has lowered the GDP growth projections for the fourth quarter of the year from 0.4 percent to 0.2 percent against the background of the yellow vest rallies that recently raged in the country, according to the regulator's statement
MOSCOW (Pakistan Point News / Sputnik - 10th December, 2018) The Bank of France has lowered the GDP growth projections for the fourth quarter of the year from 0.4 percent to 0.2 percent against the background of the yellow vest rallies that recently raged in the country, according to the regulator's statement.
"In November, the current movement affected the industrial sector most of all... In total, industrial production has no longer grown," the regulator said.
According to the forecast, the GDP growth is expected to stand at 0.2 percent in the fourth quarter, as compared to the third quarter. In October, the bank projected the growth to be 0.4 percent.
France has been facing a wave of mass protests since mid-November, when the so-called yellow vest protesters named after the obligatory attribute of French drivers took to the streets to rally against rising fuel prices and a planned hike in tax on diesel and carbon fuels.
The rallies intensified last week, with over 1,700 detained on Saturday alone.
