France Industrial production January 2021

France

France: Industrial output expands for first time in three months in January

March 3, 2021

Industrial output expanded 3.3% in month-on-month seasonally-adjusted terms in January, which contrasted December's 0.7% decrease and marked the first rise in three months. January's notable pick up was largely driven by a notable rebound in manufacturing production. In addition, mining and quarrying production also returned to growth.

On an annual basis, industrial production fell 0.2% in January, moderating notably from December’s 3.2% fall and marking the best result since November 2019. Moreover, the trend improved, with the annual average variation of industrial production coming in at minus 10.5% in January, up from December's minus 10.8% reading.

FocusEconomics Consensus Forecast panelists expect industrial output to grow 7.3% in 2021, which is up 0.2 percentage points from last month’s forecast. For 2022, panelists see industrial output growth at 3.4%.


Author:, Economist

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France Industry January 2021

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


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