France Industry May 2019

France

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).

FocusEconomics Consensus Forecast panelists expect industrial output growth at 1.2% in 2019, which is unchanged from last month’s forecast. For 2020, panelists expect industrial output growth at 1.1%.


Author:, Economist

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France Industry May 2019 2

Note: Year-on-year and month-on-month changes of industrial production index in %.
Source: French Statistics Institute (INSEE).


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