French statistical office Insee reported Friday that France's industrial production declined more than expected in December after recovering a month ago. Data showed France’s Industrial production dropped 0.9 percent month-on-month in December, larger than the expected drop of 0.7 percent.
Data compared to November's 2.4 percent increase and was the biggest fall in three months. Manufacturing output fell 0.8 percent versus the 2.4 percent growth registered in November, also missing expectations for to drop by 0.7 percent.
Most of the components of production registered contraction. Production of refined petroleum and transport equipment fell 4.3 percent and 1.6 percent, respectively. Construction output dropped 0.9 percent after rising 0.3 percent a month ago.
Seperate data showed preliminary payrolls improved to 0.4 percent in the fourth quarter of 2016, edging above the forecast of 0.3 percent. This marked the highest gain since 2011.
As France goes to the polls in April, uncertainty to remain elevated. Marie Le Pen, the far-right candidate in the ring, is leading in the polls ahead of the first round of voting. Le Pen wants to take France out of the Eurozone and has promised a referendum on France’s membership out of the European Union.
