France Industry


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%.


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France Industry Chart

France Industry May 2013

Note: Month-on-month changes of seasonally adjusted industrial production and annual growth rate in %.
Source: National Institute of Statistics and Economic Studies (INSEE) and FocusEconomics calculations.

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