France Industrial production May 2021


France: Industrial activity tips back into contraction in May

July 5, 2021

Industrial output dropped 0.3% month-on-month in seasonally-adjusted terms in May (April: +0.1% mom). May's reading was partly due to a deterioration in manufacturing output. In contrast, mining and quarrying production rebounded.

On an annual basis, factory output rose 20.5% in May, which was significantly below April’s 44.2% expansion. Meanwhile, the trend improved significantly, with the annual average variation of industrial production coming in at plus 2.1% in May, contrasting April's minus 1.5%.

FocusEconomics Consensus Forecast panelists project industrial output to grow 7.8% in 2021, which is down 0.6 percentage points from last month’s forecast. For 2022, panelists see industrial output growth at 3.4%.

Author:, Economist

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France Industrial production Chart

France Industry May 2021

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

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