France: Industry grows at fastest pace in four months in August
October 16, 2013
In August, industrial production grew a seasonally adjusted 0.2% over the previous month, which marks the strongest expansion in four months. The reading contrasted the 0.6% decline observed in July but came in well below market expectations of a 0.6% increase. The figure was mainly influenced by a rise in construction as well as in manufacturing.
Compared to July last year, industrial production fell from minus 1.6% in July to minus 2.9% in August. Meanwhile, annual average growth in industrial production edged down from minus 1.7% in July to minus 1.8% in August.
FocusEconomics Consensus Forecast panelists expect industrial production to contract 1.3% this year, which is up 0.3 percentage points from last month's forecast. For 2014, participants expect industrial output to drop 1.2%.