France: Industrial sector remains downbeat in October
Latest reading: Industrial output dropped 0.1% in month-on-month seasonally adjusted terms in October, which was a softer decline than September’s 0.8% decrease but contrasted market expectations for expansion. Industrial output has now shrunk for five of ten months so far this year. Lower energy and mining output dragged on October’s reading, outweighing a recovery in manufacturing.
On an annual basis, industrial output decreased 0.6% in October, matching September’s fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at an over one-year low of minus 0.1% in October, contrasting September’s plus 0.3% reading.