France Industry


Industrial output rebounds strongly in April

In April, industrial production soared a seasonally adjusted 2.3% over the previous month, which represents the highest print seen since May 2011. The figure contrasts the revised 0.6% drop observed in March (previously reported: -0.9% mom) and came in well above market expectations of a 0.2% expansion. The largest expansion was tallied in manufacturing, followed by construction.

Compared to the same month last year, industrial output contracted 0.5%, which marks a significant improvement over the 2.1% contraction observed in March. Despite the negative figure, annual average growth in industrial output edged down from minus 2.5% in March to minus 2.6% in April.

FocusEconomics Consensus Forecast panellists see industrial production dropping 1.5% in 2013, which is unchanged from last month's forecast. For next year, panellists expect an expansion of 1.7%.

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France Industry Chart

France Industry April 2013

Note: Month-on-month changes of seasonally adjusted industrial production and annual growth rate in %.
Source: National Institute of Statistics and Economic Studies (INSEE) and FocusEconomics calculations.

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