France: Industrial production deteriorates in August
October 10, 2014
Industrial production growth was flat in August over the previous month, in seasonally-adjusted terms. The reading came in below the revised 0.3% expansion observed in July but overshot the 0.3% contraction that markets had expected. According to the Statistical Institute, the deterioration came on the back of a contraction in manufacturing output and a slowdown in mining and quarrying. Conversely, construction improved notably over the previous month.
On an annual basis, industrial production contracted 0.3% in August, which contrasted the 0.2% increase tallied in July. Annual average growth in industrial production inched up from July’s minus 0.7% to minus 0.5% in August.
Author: Ricardo Aceves, Senior Economist