France Industrial production May 2020

France

France: Industrial output records best result on record in May

July 10, 2020

Industrial production rose 19.6% month-on-month in seasonally-adjusted terms in May (April: -20.6% mom). The figure marked the best result on record.

The recovery largely reflected rebounds in industrial production and mining and quarrying output. Construction sector output gained pace, while energy production increased.

On an annual basis, factory output plummeted 23.4% in May, a less pronounced contraction than April’s 35.0% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 7.0% in May, down from April's minus 4.7%.

FocusEconomics Consensus Forecast panelists expect industrial output to contract 10.8% in 2020, which is down 1.7 percentage points from last month’s forecast. For 2021, panelists expect industrial output growth at 7.0%.


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France Industry May 20 20

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


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