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French Industrial Production Drops as Automobile Industry Shrinks
Monday, 10 November 2008 07:15:05 GMT  |  DailyFX Research
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French September industrial production dropped -0.5% m/m, with manufacturing production down 0.8% m/m, bringing annual rates down to -1.9% y/y and -2.5% y/y respectively. The monthly drop was in line with our median and together with a sharp decline in German September production means Euro-Zone data will also show a marked drop at the end of Q3, thus supporting expectations for a contraction in Q3 GDP growth. The breakdown for France showed a second month of sharp declines in the automobile industry, which highlights the woes of the car sector as global growth slows down. Construction production declined for a third consecutive month.

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