France's Economic Growth Probably Accelerated, Survey Shows
(Bloomberg) -- France's economy probably picked up in the third quarter after stagnating in the second as consumers increased spending and a weaker euro made exports more competitive, a survey of economists showed. Gross domestic product in France, Europe's third-largest economy, may have increased 0.5 percent from the second quarter, when it rose 0.1 percent, according to the median estimate of 32 economists in a Bloomberg survey. Insee, the Paris-based statistics office, will release the report at 8:50 a.m. today. Consumer spending rose as oil prices retreated from a record and government rule changes pushed down unemployment. A 13 percent drop in the euro against the dollar this year helped exporters including Schneider Electric SA, the world's largest maker of circuit breakers. "As we progress into 2006, we should see a gradual pickup in spending along with an improving labor market and slightly higher growth rates,'' said Elwin de Groot, a senior economist at Fortis Bank NV in Amsterdam, who forecast expansion of 0.6 percent. ``The main reason is clearly the strong pickup in consumer spending.''
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