Industrial output up in Italy, down in France in Dec
Contributing to the growth in December, production of intermediate goods, consumer goods, capital goods and energy output was up by 2%, 1.5%, 1.2% and 0.7% respectively.
However, the data from Insee showed that the industrial production in France fell more than expected in December by 0.9% on the month after an increase of 2.4% in November. This rate of decline was larger than the expectations of a decrease of 0.7% and was the biggest of the previous three months.
According to the data, manufacturing dropped by 0.8% in December month-on-month after a growth of 2.4% in November and slightly exceeded the expectations of a drop of 0.7%. Contributing to the decline in December, production of refined petroleum and transport equipment as well as construction output fell by 4.3%, 1.6% and 0.9% respectively.
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