Industrial production down in France and Italy in Sept
Data from the national statistics institute ISTAT indicated that Italian industrial production dropped by 0.8% on a seasonally adjusted, month over month basis in September compared to an increase of 1.8% recorded in August. This beat analysts’ expectations which had called for a 1.0% decline for September.
Manufacturing output in France also declined 1.1% in September when compared to a 2.4% increase in August, missing the estimates which called for a smaller fall. Construction output was also down by 0.9% in September from the rise of 0.6% in August.
On a quarterly basis, Italy’s industrial production increased by 1.2% in the July-September period from a 0.2% decline in Q2 while France’s industrial output fell by 0.1% in the third quarter due to a sharp drop in mining and quarrying.
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