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- French industrial production rose more than expected in September
French industrial production rose more than expected in September
According to the report from INSEE, in September 2020, output increased in the manufacturing industry (+2.2%, after +0.8%) as well in the whole industry (+1.4%, after +1.1%). Economists had expected a 0.8% increase in the whole industry. Compared to February (the last month before the beginning of the general lockdown), output remained significantly lower in the manufacturing industry (−5.5%), as well as in the whole industry (−5.1%).
In September, output increased again in the manufacture of transport equipment (+8.8% after +5.0%) and in “other manufacturing” (+1.2% after +2.1%). It bounced back in the manufacture of machinery and equipment goods (+3.1% after −4.1%) and in the manufacture of coke and refined petroleum (+11.4% after −6.9%). It was virtually stable in the manufacture of food products and beverages (0.0% after −2.0%) whereas it decreased in mining and quarrying, energy, water supply (−2.8% after +2.9%).
In September, output yet remained below its February level in most industrial activities. It plummeted in the manufacture of transport equipment (−12.1%), in the manufacture of coke and refined petroleum (−7.4%) and in the manufacture of machinery and equipment goods (−6.7%). In “other manufacturing”, output mainly declined in the manufacture of basic metals and fabricated metal products (−7.4%) and in chemicals (−7.1%) while it was up in pharmaceuticals (+6.5%). In the manufacture of food products and beverages, output had been less impacted and had returned to the pre-lockdown level since June − July.
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