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Financial News: French Industrial Production Rebounds In October

French Industrial Production Rebounds In October

12/03/2021 - 03:18:00 (RTTNews)

(RTTNews) - France's industrial production rebounded in October, largely led by a strong recovery in the manufacture of transport equipment, preliminary data from the statistical office INSEE showed Friday.

Industrial production grew 0.9 percent from September, when it decreased 1.5 percent. Economists had forecast 0.5 percent gain.

Manufacturing output also grew 0.9 percent monthly in October, following a 1.6 percent slump in the previous month.

INSEE attributed the latest rebound in production to a strong recovery in the manufacture of transport equipment, up 8.8 percent monthly versus an 8.6 percent fall in the previous month.

Within the group, production of other transport equipment stood out with a 13.9 percent gain, after a 4.2 percent fall, largely driven by the manufacture of air and spacecraft equipment.

Production also rebounded in the manufacture of food products and beverages, mining and quarrying, energy, water supply and in the manufacture of coke and refined petroleum.

Meanwhile, output declined further in the other manufacturing group and dropped in the production of machinery and equipment.

The construction output increased 4.8 percent from the previous month after remaining unchanged in September.

Among the main industrial groupings, production rebounded in capital goods, intermediate goods, energy and consumer durables, while output declined further in consumer non-durables.

Compared to February 2020, a month before the first general lockdown linked to the Covid-19 pandemic, the industrial production was lower by 4.5 percent and the manufacturing output by 5.3 percent in October.

On a year-on-year basis, industrial production decreased 0.5 percent in October, erasing a similar size gain in September. The decline was the first since February. Manufacturing output edged up 0.1 percent after a 0.3 percent fall in the previous month.

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