France industrial production declined more than expected in March

According to the report from Insee, in March 2019, output slipped back in the manufacturing industry (−1.0% after +0.8% in January) and in the whole industry (−0.9% after a virtual stability vs -0.5% m/m expected).

Manufacturing output increased over the last quarter (+1.1%), as well as in the whole industry (+0.9%). Over the last quarter, output kept growing in most branches: in the manufacture of machinery and equipment goods (+3.2%), in “other manufacturing” (+0.8%), in the manufacture of transport equipment (+0.8%), in the manufacture of coke and refined petroleum products (+4.1%) and in the manufacture of food products and beverages (+0.2%). It was virtually stable in mining and quarrying, energy, water supply (−0.1%).

Manufacturing output of the last quarter increased compared to the same quarter a year ago (+1.3%), as well as in the whole industry (+0.5%). Over a year, quarter’s output increased sharply in the manufacture of transport equipment (+5.4%), and more moderately in “other manufacturing” (+1.0%) and in the manufacture of machinery and equipment goods (+1.9%). On the contrary, it decreased strongly in mining and quarrying, energy, water supply (−4.1%) and more moderately in the manufacture of food products and beverages (−1.2%) and in coke and refined petroleum products (−0.5%).