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- French industrial production grew less than expected in July
French industrial production grew less than expected in July
According to the report from INSEE, in July 2020, output continued to recover in the manufacturing industry (+4.5%, after +14.8% in June), as well as in the whole industry (+3.8%, after +13.0% in June). Economists had expected a 5.0% increase in the whole industry.
Compared to February (the last month before the start of the general lockdown), output declined in the manufacturing industry (−7.9%), as well as in the whole industry (−7.1%).
Over the last three months, manufacturing output increased in manufacturing industry (+5.4%), as well as in the whole industry (+5.0%). Over this period, output continued to recover in all industrial activities.
Manufacturing output of the last three months declined sharply compared to the same three months of 2019 (−15.3%), as well as in the whole industry (−14.3%).
Over a year, output plunged in the manufacture of transport equipment (−36.5%) and in the manufacture of coke and refined petroleum products (−31.7%). It fell strongly in “other manufacturing” (−13.6%), in the manufacture of machinery and equipment goods (−13.6%) and in mining and quarrying, energy, water supply (−8.9%). It diminished more moderately in the manufacture of food products and beverages (−3.5%).
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