French September IP likely posted solid growth

French industrial production printed a solid growth rate in August of close to 2%, which was around -1.0% in the previous month. The industrial output is expected to follow similar trend in September. Societe Generale foresees a 2.5% year-on-year increase in industrial production.

Manufacturing a major component of industrial output is likely to post a solid growth rate during the referred month. 

"The overall result will be a 0.9% mom increase in industrial production in France and a firm 2.5% increase year on year. This would be equivalent to 0.6% qoq in Q3, consistent with our GDP forecast (0.4% qoq)", estimates Societe Generale.