France: Industrial output drops in March
May 7, 2013
In March, industrial output fell 0.9% over the previous month in seasonally adjusted terms, which contrasted the 0.8% increase tallied in February. The contraction exceeded market expectations of a 0.3% drop, and was mainly the result of a deterioration in both manufacturing and construction.
On an annual basis, industrial activity contracted 2.5% in March, which represented an improvement over the 2.9% drop observed in February. Nonetheless, the trend now points downwards, as annual average variation in industrial production inched down from minus 2.5% in February to minus 2.6% in March.
FocusEconomics Consensus Forecast panellists see industrial production dropping 0.5% in 2013, which is down 0.2 percentage points from last month's forecast. For next year, panellists expect an expansion of 1.3%.