France’s industrial output for October beat expectations after a surge in manufacturing equipment production, statistics showed Friday.
Industrial output in the eurozone’s second-largest economy rose 1.9% on month in October, French statistics agency Insee said, outpacing the 0.2% increase expected by economists polled by The Wall Street Journal.
Insee also revised September’s figure upward to a 0.8% on-month increase from 0.6% previously.
The strength of French industry in recent months indicates that the acceleration in economic growth over the past 12 months is set to continue at least until the end of the year. Confidence indicators in industry are also at their highest level in a decade.
Friday’s statistics from Insee showed a particularly strong performance in manufacturing. Output in that segment rose 2.7% in October from September on a 6.1% increase in the production of equipment material.
Source: Dow Jones