Industrial production in France declined in January

Note: This section contains information in English only.
Source: Bloomberg
Industrial production in France declined well ahead of expectations in January due to the reason that second largest economy of Europe was on the edge of its third economic crisis within four years. Productivity from mines, factories and utilities contracted 1.2% in the month from December. According to economists' forecasts, the fall of 0.2% was expected. Decline in factory output by 1.4% in January and 4.6% within three months beyond was caused by slid in car production.
"France remains stuck in a recessionary mode," said Philippe Gudin, an economist at Barclays in Paris. "The unemployment rate is flirting with historical highs and household income is hit by higher taxes. The stabilization we had expected from the beginning of 2013 does not seem to have taken place."
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