France: Industrial output eases in February
April 11, 2011
In February, industrial output expanded 0.4% in seasonally adjusted terms over the previous month. The reading was below both the revised 0.7% increase tallied in January (previously reported: +1.0% month-on-month) and market analyst expectations, which had industrial output expanding 0.5%. On an annual basis, industrial activity accelerated from a 5.4% rise in January to grow 5.6% in February. The softer monthly result was primarily driven by a weaker manufacturing sector, as well as by contractions in the mining and quarrying and construction sectors. In spite of the subdued monthly expansion, the trend continues to improve, with annual average industrial output growth rising from 5.9% in January to 6.1% in February.