French industrial production to bounce back in August

French industrial production figures for July were disappointing. This weakness is expected to be reversed in August, with manufacturing output up 1.4% mom and the industry as a whole up 1.6% mom. One of the main causes for the July drop was persistent weakness in the manufacture of coke and refined petroleum products which did not recover from the sharp fall experienced in June (-14.5% on 3m/3m). 

"We forecast a rebound with an increase in energy production likely", says Societe Generale.