France: Industrial output eases in March
May 10, 2011
In March, industrial output dropped 0.9% in seasonally adjusted terms over the previous month, marking the first contraction in five months. The reading contrasted both the revised 0.5% increase tallied in February (previously reported: +0.4% month-on-month) and market analyst expectations, which had industrial output expanding 0.4%. On an annual basis, industrial activity decelerated from a 5.9% rise in February to a 3.3% increase in March. The monthly result was primarily driven by a drop in the manufacturing sector, together with declining output in both the mining and quarrying as well as in the construction sectors. As result of the monthly drop, annual average industrial output growth decelerated from 5.6% in February to 5.3% in March.