France Industrial production July 2020

France

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.

FocusEconomics Consensus Forecast panelists expect industrial output to contract 11.8% in 2020, which is up 1 percentage points from last month’s forecast. For 2021, panelists see industrial output growth at 8.7%.


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France Industry July 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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