French Industrial Production likely to fall in November

With an increase in the energy production component, the French Industrial Production in October rose by 0.5 %, which was far better than expected. However, with a drop in both machinery equipment and transport equipment, the manufacturing production (excluding energy and mining) declined by 0.5%.

The energy component is expected to fall after it witnessed strong increase in October, while manufacturing output is likely to be flat MoM output (equal to a yoy increase of 1.9%).

"We expect the overall effect to be a 0.9% mom fall in industrial production, which would put our 0.3% qoq Q4 growth forecast for France at risk of downward revisions" - Societe Gernerale