France Industrial production July 2022

France

France: Industrial activity contracts at sharpest pace since February 2021 in July

September 9, 2022

Industrial production fell 1.6% month-on-month in seasonally-adjusted terms in July (June: +1.2% mom). July's result marked the lowest reading since February 2021. The figure largely reflected a fall in manufacturing and mining output. In addition, energy production contracted.

On an annual basis, industrial output fell 1.2% in July (June: +1.0% yoy) and similarly marked the weakest result since February 2021. Accordingly, the trend pointed down, with the annual average growth of industrial production coming in at an over one-year low of 0.1% in July, down from June's 0.5%.

FocusEconomics Consensus Forecast panelists project industrial output to grow 0.4% in 2022, which is up 0.2 percentage points from last month’s forecast. For 2023, panelists see industrial output growth at 0.9%.


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France Industry July 2022

Note: Year-on-year and month-on-month changes of industrial production index in %.
Source: French Statistics Institute (INSEE).


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