France: Industrial production edges up in September
November 11, 2010
In September, industrial output added 0.1% over the previous month in seasonally adjusted terms. The moderate increase followed on a flat reading tallied in August and undershot market expectations of a 0.5% gain. On an annual basis, industrial activity accelerated from a 4.1% rise in August a to 5.1% expansion. Slower growth in manufacturing (-0.1% month-on-month) and construction (-0.3% mom) partly offset a 1.1% increase in mining, energy, water and waste management (August: -0.7% mom) and thus accounted for the subdued September growth. Despite the dismal September reading, the trend continues to improve, with annual average growth of industrial output jumping from 1.6% in August to 3.1% in September, which represents the fastest annual average growth since April 2001.