France: Industrial output drops for third consecutive month in February
April 10, 2017
In February, the contraction in industrial production sharpened from a revised 0.2% month-on-month (previously reported: -0.3% month-on-month) contraction in January to a steep 1.6% decline. The reading, which marks the third consecutive drop in output and the worst print in five months, was worse than market analysts’ expectation of a 0.1% increase. The decline in industrial output reflects how a drop in the manufacturing and the mining and quarrying, energy, water supply and waste management components more than offset a strong expansion in construction.
In annual terms, industrial production dropped 0.7% in February, coming in below the revised 0.2% decline observed in the preceding month (previously reported: -0.4% year-on-year). Meanwhile, annual average growth in industrial production edged down from a flat reading in January to a 0.1% decline in February, marking an almost two-year low.