France’s industrial output rose on a monthly basis in October, despite supply chain problems, exceeding estimates, according to Insee statistics.
Total industrial production increased 0.9% in October compared to September.
Economists expected production to increase by 0.3%.
Industrial production was 4.5% lower than pre-pandemic levels in February 2020, Insee said.
Manufacturing production (the largest component of industrial production) increased by 0.9% in October compared to the previous month. Energy production increased by 0.5% while construction production by 4.8%.
There is evidence that the slowdown in France’s manufacturing growth from the recent peak in May is stabilizing, with the PMI rising in November for the first time in six months, IHS Markit said on Wednesday.
French manufacturing PMI rose to 55.9 points in November from 53.6 points in October.
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Source From: Capital
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