France Industry May 2016


France: Industrial productions drops in May

July 8, 2016

In May, industrial production contracted 0.5% over the previous month, which contrasted the 1.2% expansion tallied in April. The result was in line with market expectations. The print reflected a deterioration in construction and flat growth in manufacturing. According to the press release, manufacturing activity was affected by the ongoing strikes against the labor reform bill that staged blockades and lockouts in all of France’s oil refineries in May.

In annual terms, industrial output expanded 0.5% in May, which came in below the revised 1.8% expansion tallied in April (previously reported: 1.9% year-on-year). Meanwhile, the annual average growth in industrial production inched up from 1.6% in March to 1.7% in April.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.3% in 2016, which is unchanged from last month’s forecast. For 2017, participants expect industrial output to accelerate to a 1.9% expansion.

Author: Jean-Philippe Pourcelot, Economist

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France Industry Chart

France Industry May 2016

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

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