France: Industrial output expands at quickest pace since May in December
Industrial production increased 1.1% month-on-month in seasonally adjusted terms in December (November: +0.5% mom). The result marked the best reading since May. The pickup was partly due to faster growth in manufacturing production. In addition, mining and quarrying output rebounded.
On an annual basis, factory output rose at a faster rate of 0.9% in December (November: +0.4% yoy) Meanwhile, annual average growth of industrial production was unchanged coming in at November’s 0.6% in December.
Charlotte de Montpellier, senior economist at ING, commented on the release:
“From these figures, we can conclude that the French industrial sector continues to recover. After a very complicated 2023 overall, the end of the year was a little better and suggests that 2024 is beginning under better conditions. The worst is probably over.”