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- French industrial production rose more than expected in October
French industrial production rose more than expected in October
According to the report from INSEE, in October 2020, output slowed down in the manufacturing industry (+0.5%, after +2.3%) while it rose again in the whole industry (+1.6%, after +1.6%). Economists had expected a 0.4% increase in the whole industry.
Compared to February (the last month before the beginning of the first general lockdown), output remained significantly lower in the manufacturing industry (−5.0%), as well as in the whole industry (−3.6%).
In October, output bounced back in mining and quarrying, energy, water supply (+7.9% after −2.7%). It went on increasing in “other manufacturing” (+1.2% after +1.1%), in the manufacture of machinery and equipment goods (+1.0% after +3.9%) and it grew up strongly again in the manufacture of coke and refined petroleum (+13.0% after +19.5%). However output of transport equipment fell back (−2.7% after +9.2%) and output of food products and beverages decreased slightly (−0.3% after a virtual stability).
Output of the last three months was lower than that of the same months of 2019 (−6.4%) in the manufacturing industry, as well as in the whole industry (−5.5%).
Over this one-year period, output slumped in the manufacture of coke and refined petroleum products (−22.3%) and in the manufacture of transport equipment (−17.4%). It diminished sharply in the manufacture of machinery and equipment goods (−6.8%), in “other manufacturing” (−4.6%) and more moderately in mining and quarrying, energy, water supply (−0.3%) and in the manufacture of food products and beverages (−1.9%).
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