German and French industrial production unexpectedly drops

German and French industrial production unexpectedly drops

Industrial output in the euro region’s two biggest economies startlingly contracted in November as supply constraints lingered, even before the Covid’s omicron variation hit the mainland. France saw strong decreases in transport materials and hardware, while energy output and development burdened Germany’s production. For the last option, there’s “scope for an expansion to be recorded in December and the sector is likely to have made a meaningful contribution to economic growth in the fourth quarter,” as per Jamie Rush, chief European market analyst at Bloomberg Economics.

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