France: Industrial output continues to drop in October
December 10, 2012
In October, industrial output fell 0.7% over the previous month in seasonally adjusted terms, which followed the 2.7% plunge tallied in September. The monthly drop defied market expectations, which had industrial production rebounding to a 0.3% expansion, and was driven by a further decline in manufacturing production.
On an annual basis, industrial activity contracted 3.6% in October, which was down from the 2.5% drop observed in September and marked the lowest level in five months. Accordingly, annual average variation in industrial production declined from minus 1.6% in September to minus 2.0%.