France: Industrial output contracts at sharpest pace on record in April
Industrial production fell 20.1% month-on-month in working-day and seasonally-adjusted terms in April (March: -16.2% mom). April’s figure marked the worst reading on record.
Looking at the details of the release, the contraction in manufacturing output widened in April, while mining and quarrying output also declined at a more pronounced rate. Construction sector output contracted at a softer pace, while energy output dropped.
On an annual basis output dived 34.2% in April, which was significantly below March’s 17.3% fall. The reading marked the worst result on record. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.7% in April, down from March’s minus 1.7%.