France Industry


France: Industrial output drops on manufacturing

November 9, 2012

In September, industrial output fell 2.7% over the previous month in seasonally adjusted terms, which contrasted the revised 1.9% increase tallied in August (previously reported: +1.5% month-on-month). The monthly drop, the sharpest since January 2009, was driven by a steep decline in manufacturing production, in particular in the manufacture of coke and refined petroleum products. The monthly reading widely exceeded market expectations of a 1.0% drop. On an annual basis, however, industrial activity contracted 2.5% in September, which was down from the 0.9% drop observed in August. Accordingly, annual average variation in industrial production declined from minus 1.3% to minus 1.6%.


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France Industry Chart

France Industry September 2012

Note: Month-on-month changes of seasonally adjusted industrial production and annual growth rate in %.
Source: National Institute of Statistics and Economic Studies (INSEE) and FocusEconomics calculations.

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