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Auto Boost Looks Short-Lived as French IP Contracts

FRANCE DATA
MNI (London)

FRANCE SEP INDUSTRIAL PRODUCTION -0.8% M/M, +1.8% Y/Y; AUG +2.7% M/M, +1.5% Y/Y

  • French industrial production figures were largely in line with expectations in September, contracting by -0.8% m/m following robust August growth.
  • The sharp drop in energy production is weighing on industrial production, down -3.2% m/m and -9.1% y/y as the country struggled with domestic energy supply issues.
  • Production slowed markedly in automotive -5.5% m/m following a strong +16.4% m/m growth in August boosted by easing supply chains.
  • As such, the growth effects of easing supply constraints appear to be short-lived, as slowing order books as flagged by PMIs takes its toll with production to slow into year-end.

Source: Insee

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