French industrial production fell more than forecast in April

According to the report from INSEE, in April 2020, output plummeted sharply again in the manufacturing industry (−21.9%, after −18.3%), as well as in the whole industry (−20.1%, after −16.2%). Economists had expected a 20% decrease in the whole industry. Compared to February (the last month before the start of the general lockdown), output fell by 36.2% in manufacturing and 33.1% in the whole industry.

Over the last three months, manufacturing output declined markedly in manufacturing industry (−17.4%), as well as in the whole industry (−15.8%).

Over this period, output slumped in the manufacture of transport equipment (−34.1%). It plunged in the manufacture of machinery and equipment goods (−19.1%), in “other manufacturing”(−17.1%) and in the manufacture of coke and refined petroleum products (−19.2%). It decreased more moderately in mining and quarrying, energy, water supply (−6.4%) and in the manufacture of food products and beverages (−3.7%).

In the manufacturing industry, cumulative output over the last three months declined sharply compared to the same months a year ago (−19.4%), as well as in the whole industry (−17.7%).

Over a year, output plummeted in the manufacture of coke and refined petroleum products (−44.2%). It fell markedly in “other manufacturing” (−18.0%), in the manufacture of transport equipment (−36.7%) and in the manufacture of machinery and equipment goods (−23.2%). It declined more moderately in mining and quarrying, energy, water supply (−8.1%) and in the manufacture of food products and beverages (−4.1%).