France: Industrial production eases in July
September 10, 2020
Industrial output rose 3.8% month-on-month in seasonally-adjusted terms in July, markedly softer than June’s 13.0% increase.
Looking at the details of the press release, July’s reading largely reflected a softer expansion in manufacturing output compared to the previous month. Moreover, construction output rose at a more moderate pace than in June.
On an annual basis, industrial output declined 8.3% in July, a smaller drop than June’s 11.3% contraction. Meanwhile, the trend continued to deteriorate, with the annual average variation of industrial production coming in at minus 8.6% in July, down from June’s minus 7.9% reading.