France: Industrial output grows at over two-year high in May
July 10, 2019
Seasonally-adjusted industrial output expanded 2.1% month-on-month in May, the highest reading in 30 months, on the heels of a revised 0.5% increase in April (previously reported: +0.4% month-on-month s.a.). Notably, a rebound in manufacturing and construction activities led the monthly acceleration. In addition, mining and quarrying, energy and water supply output gained steam.
On an annual basis, industrial output rose 4.0% in May (April: +1.1% year-on-year). Meanwhile, the annual average variation in industrial production came in at a 0.3% increase in May (April: -0.2% yoy).
Author: Nicolás J. Aguilar, Economist