France: Industrial production contracts at a softer pace in March
May 10, 2016
In March, industrial production dropped 0.3% over the previous month, which came above the revised 1.3% contraction tallied in February (preciously reported: -1.0% month-on-month). The result came far below than the 0.5% expansion markets had expected. The decline reflected drops in manufacturing, which more than offset a rebound in the construction industry.
In annual terms, industrial output dropped 0.8% in February, which contrasted the February’s revised 0.4% rise (previously reported: +1.7% year-on-year). March’s print is the worst reading since November 2014. Meanwhile, the trend keeps pointing downward. The annual average industrial production dipped from 1.8% in February to 1.5% in March.