France Industry


France: Industrial production expands for second consecutive month

March 10, 2015

In January, industrial production expanded a seasonally-adjusted 0.4% over the previous month, which came in below the revised 1.4% expansion tallied in December (previously reported: +1.5% month-on-month). The print, which overshot the 0.3% contraction the markets had expected, reflected a deterioration in both manufacturing and construction.

In annual terms, industrial output swung from a 0.4% contraction in December to a 0.6% increase in January, which marked the first expansion in industrial output since November 2013.

The trend appeared to have stabilized. The annual average variation in industrial production remained unchanged at December’s minus 1.0% in January.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.1% in 2015, which is unchanged from last month’s forecast. For 2016, participants expect industrial output to accelerate to a 1.8% expansion.

Author:, Senior Economist

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France Industry Chart

France Industry January 2015

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

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