Industrial production in France is sad-report
2022.12.02 05:47
Industrial production in France is sad-report
Budrigannews.com – On Friday, the economic news continued to worsen in the eurozone: France announced the sharpest drop in industrial production for 19 months, Germany’s export capacity was knocked down again.
According to INSEE statistics, the output of the energy sector decreased by 7.6, which was the second month of decline in this sector.
This contradicts a series of revisions in the direction of reducing the volume of nuclear production in the country this year and, moreover, a prolonged strike at a number of the country’s largest oil plants, which led to a decrease in production by 46 percent.
Also, the country’s long-suffering automotive industry was experiencing difficulties, production volumes decreased by 5.8 per month, and production volumes decreased by 5.8. During the pandemic, car production in France was stopped. From that moment on, narrow positions in the supply chain and long-term problems with expenses did not allow a convincing recovery.
Even at present, the volume of production remains less than 20% less than before the coronavirus. Christopher Barro, head of economist and trading market strategist, tweeted: “Another signal suggesting a decline in GDP in the fourth quarter.”
The next day, data showed that the second largest eurozone market showed an adjusted decline of 2.8. Germany, the largest economy in the Eurozone, said earlier that the fourth quarter started badly, declining by 0.6% compared to September last year.
This was their second monthly dynamics, and compared to the usual picture, the September figures were revised upward to show a decrease of 0.7%, namely 0.5%. However, the trade balance was improved as a result of a sharp drop in prices, which, first of all, was facilitated by monthly declines in oil and gas.
As a result, the positive balance in the country’s trade balance, which is a key growth factor in normal times, increased to 6.9 billion euros or 1.0529 dollars, which is the highest level since Russia’s entry into the Ukrainian market.
