France: Industry drops in May
July 11, 2013
In May, industrial production decreased a seasonally adjusted 0.4% over the previous month. The figure contrasted both the 2.3% rise registered in April as well as market expectations of a 0.8% increase. The May reading reflected a contraction in manufacturing as well as in construction.
On an annual basis, industrial output swung from minus 0.5% in April to plus 0.4% in May. As a result of the higher print, annual average growth in industrial output stepped up from minus 2.5% in April to minus 2.1% in May.
FocusEconomics Consensus Forecast panellists expect industrial production to rise 1.5% this year, which is unchanged from last month's forecast. For 2014, participants expect industrial output to pick up to 1.7%.