French industrial production beat expectations in March, data showed today, as a broad-based rise in manufacturing and mining and energy helped offset a continued decline in car production.
Industry output grew 1 per cent month-on-month in March, national statistics office INSEE said, far exceeding a Reuters consensus forecast for a 0.3 pe rcent rise.
Over the first quarter, output was up 1.6 per cent.
Manufacturing production rose 0.8 per cent in March compared to the previous month, and 0.7 per cent over the first three months of the year.
Separately, the Bank of France said it expected the French economy to grow by 0.5 per cent in the second quarter of the year.
Car production declined in March, dropping 1.6 per cent over the month as a whittling down of the government scrappage bonus continued to weigh heavily on sales.
But other manufacturing industries saw a pick-up in production in March, raising hopes the French economy is regaining momentum.
Output of pharmaceutical goods was up 2 per cent in March, while production of metal goods gained 2.1 per cent on the month.
Mining and energy industries, meanwhile, added 2.7 per cent on the month.
Reuters