France Industry July 2016

France

France: Industrial production contracts for third consecutive month

September 9, 2016

In July, industrial production contracted 0.6% over the previous month, which came in below the 0.7% drop observed in June. The result vastly undershot market expectations of a 0.2% expansion and reflected contractions in manufacturing and mining and quarrying. Within the manufacturing sector, the manufacture of coke and refined petroleum products recorded a strong increase in July, after refineries resumed production following the end to blockades and lockouts in all of France’s oil refineries.

In annual terms, industrial output declined 0.1% in July, a mild improvement over the 1.1% contraction registered in June. Meanwhile, the annual average growth in industrial production was stable at June’s 1.2%.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 0.9% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, participants expect industrial output to accelerate to a 1.5% expansion.


Author:, Economist

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France Industry July 2016

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


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