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Financial News: France Industrial Output Growth Accelerates In December

France Industrial Output Growth Accelerates In December

02/02/2024 - 03:29:00 (RTTNews)

(RTTNews) - France's industrial production growth more than doubled in December, data from the statistical office INSEE showed on Friday.

Industrial output grew 1.1 percent on a monthly basis, following November's 0.5 percent gain. The growth rate was forecast to ease to 0.2 percent.

Similarly, growth in manufacturing output advanced to 1.2 percent from 0.2 percent a month ago.

Within manufacturing output, manufacture of food products and beverages rebounded 1.5 percent after a 0.9 percent fall.

Meanwhile, coke and refined petroleum product output dropped 1.7 percent, the same rate of decline as seen in November. At the same time, machinery and equipment output slid 2.4 percent, in contrast to the 1.4 percent increase a month ago.

Transport equipment growth improved to 1.6 percent from 0.3 percent. Likewise, other manufacturing rose at a faster pace of 2.1 percent following a 0.3 percent increase. Further, data showed that mining and quarrying gained 0.2 percent, weaker than the 1.9 percent rise in the previous month.

Construction output posted a monthly growth of 3.0 percent, reversing November's 1.1 percent decrease.

In the fourth quarter, industrial output dropped 0.2 percent, while manufacturing output gained 0.1 percent.

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