France: Industry drops in September
November 8, 2013
In September, industrial production dropped a seasonally-adjusted 0.5% over the previous month. The reading contrasts both the 0.7% increase recorded in August and market expectations of a 0.1% expansion. Decreases in manufacturing as well as in construction were the most important drivers behind the monthly decline.
On an annual basis, industrial output stepped up from minus 2.0% in August to minus 0.9% in September, driving annual average growth up from minus 1.5% in August to minus 1.4% in September.
FocusEconomics Consensus Forecast panelists expect industrial production to contract 0.5% this year, which is up 0.1 percentage points from last month's forecast. For 2014, participants expect industrial output to drop 1.7%, which is up 0.2 percentage points from last month's estimate.