France November industrial production -1.3% vs 0.0% m/m expected
Latest data released by INSEE - 10 January 2019
- Prior +1.2%; revised to +1.3%
- Industrial production -2.1% vs -0.2% y/y expected
- Prior -0.7%; revised to -0.6%
- Manufacturing production -1.4% vs +0.4% m/m expected
- Prior +1.4%
- Manufacturing production -2.2% y/y
- Prior -1.3%; revised to -1.1%
Despite some slightly positive revisions to October figures, the November figures are just really poor. It only compounds further worries in the Eurozone economy though factory activity here is likely disrupted also by the yellow vest protests at the time.
INSEE notes that one of the reasons for the drop in output was a decline in production in the energy sector, which the institute says had been affected by protesters blocking various sites during the demonstrations.
Either way, it just means that Q4 economic activity in the Eurozone is more than likely to not show any significant rebound and that won't give the ECB any help in justifying its economic outlook to hike rates later this year.