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(From Market - Europe)
French industrial activity showed early signs of recovery in the third quarter of 2003 and moderate upward momentum will prevail through the first half of this year. France escaped recession thanks to increased internal and external sales. Growth of export sales is likely to outpace internal sales gains as 2004 progresses.
Industrial confidence has improved in recent months thanks to rising internal and external demand for finished goods. Sectors that are taking a leading role in the recovery include producers of computer chips, metals/minerals, and food products. The strong euro continues to punish French exports and that will undermine growth in industrial expenditure through the first half of ...