France Industry

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France: Industrial production in November contracts for second consecutive month

January 9, 2015

In November, industrial production contracted a seasonally-adjusted 0.3% over the previous month. The reading followed the revised 0.7% contraction observed in October (previously reported: -0.8% month-on-month) and contrasted the 0.3% increase the market had expected. November’s result stemmed from a contraction in manufacturing production. In contrast, construction expanded over the previous month.

In year-on-year terms, industrial production fell 2.6% in November. The print came in below the 0.9% decrease recorded in October and marked the sharpest fall in six months. Consequently, the annual average variation in industrial production fell from minus 0.5% to minus 0.9% in November, the lowest level in over a year.

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 November 2014

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


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