France: Industrial production rebounds slightly in February
April 10, 2014
In February, industrial production expanded a seasonally-adjusted 0.1% over the previous month. The reading marked an improvement compared to January's 0.3% contraction, but fell short of the 0.2% expansion the market had expected. According to the French Statistics Institute, the monthly increase was the result of the expansion tallied in the construction sector, whereas the manufacturing sector decelerated compared to the previous month.
On an annual basis, industrial output swung from the 0.2% expansion recorded in January to a 0.8% contraction in February, which marked the lowest level in six months. Annual average growth in industrial production was unchanged at January's minus 0.2% and thus remained at the highest level since April 2012.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.0% in 2014, which is down 0.2 percentage points from last month's forecast. For 2015, participants expect industrial output to expand 1.9%.