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- French industrial production unexpectedly fell in December
French industrial production unexpectedly fell in December
According to the report from Insee, in December 2020, output decreased in the manufacturing industry for the first time since April 2020 (−1.7%, after +0.7% in November). In the whole industry, output decreased for the second consecutive month (−0.8%, after −0.7%). Economists had expected a 0.2% increase.
Compared to February (the last month before the first general lockdown), output remained significantly lower in the manufacturing industry (−5.7%), as well as in the whole industry (−4.9%).
In December, output slumped in the manufacture of coke and refined petroleum due to the shutdown of several refineries (−30.5% after −1.7%). It fell back in “other manufacturing” (−1.4% after +0.3%), in the manufacture of machinery and equipment goods (−3.5% after +1.2%) and in the manufacture of food products and beverages (−1.8% after +0.9%). Conversely, it increased in mining and quarrying, energy, water supply (+4.3% after −8.5%) and in the manufacture of transport equipment (+2.0% after +2.2%).
In December, output yet remained below its February level in most industrial activities. It plummeted in the manufacture of coke and refined petroleum (−32.0%). It fell sharply in the manufacture of transport equipment (−10.0%), especially in the manufacture of “other transport equipment” (−15.2%). Compared to February 2020, output also diminished in the manufacture of machinery and equipment goods (−7.8%), in “other manufacturing” (−4.4%) and in the manufacture of food products and beverages (−3.8%).
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