French Industrial Output Points to Strong Third Quarter

(Bloomberg) -- French industrial production rose 1% in August from July, marking the biggest increase in five months, with jumps in output of pharmaceutical products, automobiles and electronics. The expansion was greater than the 0.4% expected by analysts and bolsters expectations that the euro area’s second-largest economy accelerated sharply in the third quarter as Covid-19 restrictions were lifted. Still, the level of production in August was 3.9% below February 2019 -- the last month before the pandemic hit the country -- with output in the transport sector almost a quarter below pre-crises levels.

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