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France Manufacturing Production Climbs More Than Expected

France’s factory production rose for a second consecutive month in October and at a faster-than-expected pace, preliminary data from the statistical office INSEE showed on Tuesday.

Manufacturing production grew 0.5 percent month-on-month following a 0.8 percent growth in September, which was revised from 0.6 percent. Economists had forecast a 0.4 percent gain. In August, industrial production decreased 0.8 percent.

Industrial production rose 0.4 percent monthly after a similar pace of growth in the previous month, which was revised from 0.3 percent. Economists had forecast a 0.3 percent increase. Output fell 1 percent in August.

Combined output of mining and quarrying, energy, water supply and waste management sectors decreased 0.1 percent from the previous month. Construction output decreased 1.9 percent.

Among the main industrial groupings, production of consumer goods logged the biggest increase of 8 percent, followed by a 1.7 percent increase in output of non-durable consumer goods.

Intermediate goods output edged up 0.1 percent. Production of capital goods and energy decreased 0.1 percent and 1.1 percent, respectively.

In the three months to October, manufacturing output fell 0.3 percent and industrial production fell 0.4 percent from a year ago.

The material has been provided by InstaForex Company – www.instaforex.com