France: Industrial production rises unexpectedly in December
February 10, 2011
In December, industrial output expanded 0.3% in seasonally adjusted terms over the previous month. The expansion was well below the 2.3% increase tallied in November but contrasted market analyst expectations, which had industrial output contracting 0.3%. On an annual basis, industrial activity accelerated from a 6.0% rise in November to a 7.0% expansion in December. The expansion was driven by the mining, energy, water and waste management sector, which grew 3.2% month-on-month, offsetting contractions in the manufacturing and construction sectors, which dropped 0.1% and 4.1% respectively. Despite the subdued monthly expansion, the trend continues to improve, with annual average industrial output jumping from 5.0% in November to 5.8% in December.