'Yellow Vest' Protests To Cut Q4 Growth: Bank Of France

'Yellow vest' protests to cut Q4 growth: Bank of France

The Bank of France on Monday slashed its fourth quarter growth forecast in half, to 0.2 percent from 0.4 percent, citing the impact of the "yellow vest" protests which have rocked the country.

Paris, (UrduPoint / Pakistan Point News - 10th Dec, 2018 ) :The Bank of France on Monday slashed its fourth quarter growth forecast in half, to 0.2 percent from 0.4 percent, citing the impact of the "yellow vest" protests which have rocked the country.

"Services activity has slowed under the impact of the movement.

Transport, the restaurant and auto repair sectors have gone backwards," the French central bank said in its latest company survey.

Finance Minister Bruno Le Maire had warned Sunday that the protests sweeping France were a "catastrophe" for the economy.

"It's a catastrophe for commerce, it's a catastrophe for our economy," Le Maire told reporters as he visited shops in Paris hit by looting during anti-government riots a day earlier.