France: Industrial output falls in January
March 11, 2013
In January, industrial output decreased 1.22% over the previous month in seasonally adjusted terms, which contrasted the 0.92% rise tallied in December. The monthly drop surprised the market on the downside, as industrial production was expected to fall only 0.40%, and was mainly the result of a contraction in manufacturing as well as in construction.
On an annual basis, industrial activity contracted 3.5% in January, following the 1.9% drop observed in December. Accordingly, the trend continues to point downwards, as annual average variation in industrial production inched down from minus 2.6% in December to minus 2.7% in January.
FocusEconmics 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%.