French Industrial Production
In November, French industrial production made a surprising comeback, delivering a positive spark in an otherwise dim eurozone industrial scenario.
The recent data released by France’s national statistics agency, Insee, revealed a 0.5% increase in total industrial production. This surpassed forecasts, which had anticipated no growth, according to economists surveyed by The Wall Street Journal. It’s a notable shift after several months of consecutive decline, marking the first growth in output since the summer.
The rise in output was chiefly fueled by the energy sector and capital goods, as highlighted in Insee’s figures. However, the production of durable consumer goods, especially in transportation, took a hit compared to the previous month.
While France’s industrial rebound is encouraging, it stands out amidst a gloomy picture for the wider eurozone’s industrial landscape. Germany, considered the cornerstone of the bloc’s economy, experienced a further decline in November, a more negative outcome than anticipated. Additionally, the future seems uncertain as factory order books don’t hint at a significant recovery in the upcoming months. The larger eurozone reported a 0.7% fall in industrial production for October, adding to the concerning trend.