French Industrial Output Growth Moderates

(RTTNews) - France industrial production grew at a slower pace in October as weak machinery and equipment output dragged the manufacturing sector, figures from the statistical office INSEE revealed Friday.

Industrial output gained 0.2 percent from September, weaker than September's 0.7 percent expansion. However, the monthly increase confounded expectations for a decline of 0.1 percent.

At the same time, manufacturing output slid 0.1 percent after a 0.9 percent expansion.

Output fell back in the manufacture of machinery and equipment goods by 2.2 percent. On the contrary, the manufacture of coke and refined petroleum products advanced 3.6 percent.

In mining and quarrying, energy, water supply, output increased 1.8 percent, after remaining stable in September.

Industrial output showed signs of slowing in October, pointing to a more moderate contribution to GDP growth at year-end, said ING economist Charlotte de Montpellier.