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- France industrial output growth tops expectations
France industrial output growth tops expectations
Strong
growth in the transport and refining sectors boosted the French manufacturing
output in February, helping overall production to recover at a faster-than-expected
pace.
Industrial
output grew 0.7 percent in February from a month ago, when it fell 0.8 percent,
the statistical office Insee said Wednesday. Production was forecast to grow
0.2 percent, following a 1.2 percent drop originally estimated for January.
Likewise,
manufacturing output grew 0.8 percent, offsetting the 1.3 percent drop seen in
January and also exceeded the 0.2 percent rise forecast by economists. The
January figure was revised from the 1.4 percent drop reported on March 11.
The month-on-month
expansion in manufacturing was underpinned by a 17 percent surge in production
of coke and refined petroleum products and a 3.6 percent rise in manufacture of
transport equipment. Meanwhile, declines in manufacture of food products as
well as electronic products weighed on overall production.
Construction
output advanced 1 percent, while mining and quarrying output gained only 0.5
percent.
During the
three months ended February, output decreased slightly by 0.3 percent in the
manufacturing sector and by 0.1 percent in the industry as a whole.
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