Economics
French Industrial Output Soars in Bright Spot for Euro Zone
- Output jumps in pharmaceutical and automotive sectors
- French economy also benefitting from Macron’s tax cuts
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French industrial output surged in May, indicating the euro area’s second-largest economy resisted a downturn in manufacturing in the currency bloc.
Industrial production jumped 4% from a year earlier, the most since 2017 and beating even the most optimistic prediction in a Bloomberg poll of economists. The monthly number was the best reading since 2016. In Italy, production rose 0.9% on the month, topping the median estimate, though it was still down from a year earlier.