The Pantheon Macro believes that the situation of French industry is better than previously imagined. The data released on Friday showed that the factory production in France unexpectedly increased by 1.6% in August. Unless there is a significant drop in September, which is unlikely to happen, it means that the industry will expand throughout the third quarter, contributing to the overall growth of the French economy. This is in sharp contrast to the signs of weakness in the business survey, which currently paints an unrealistic and bleak picture.
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Panshan Macro: The situation of the French industry is better than imagined
The Pantheon Macro believes that the situation of French industry is better than previously imagined. The data released on Friday showed that the factory production in France unexpectedly increased by 1.6% in August. Unless there is a significant drop in September, which is unlikely to happen, it means that the industry will expand throughout the third quarter, contributing to the overall growth of the French economy. This is in sharp contrast to the signs of weakness in the business survey, which currently paints an unrealistic and bleak picture.