France: Industrial production shrinks in March
May 7, 2015
In March, industrial production contracted 0.3%, which came in below the revised 0.5% expansion tallied in February (previously reported: 0.0% month-on-month). The result marked a five-month low and undershot the flat reading the markets had expected. The contraction mainly reflected a slowdown in the manufacturing sector, which was partially offset by a rebound in the construction sector.
Annual figures were more positive as industrial output rose 1.3% in March, a slight increase from the 1.2% reading recorded in February, which had marked the largest expansion in over a year.
The annual average variation in industrial production inched up to minus 0.7% in March from minus 0.8% in February, thus hitting a five-month high.
Author: Eric Denis , Economist