France: Industrial output dips in April
Industrial output decreased 0.1% in month-on-month seasonally-adjusted terms in April, which contrasted March’s 1.0% increase. The result came on the back of a fall in manufacturing production. In addition, energy output growth lost pace.
On an annual basis, industrial output rose at a faster rate of 43.9% in April (March: +14.4% yoy), the best result on record—albeit driven by a low base effect. Accordingly, the trend improved sizably, with the annual average variation of industrial production coming in at an over one-year high of minus 1.6%, up from March’s minus 8.1% reading.