French industrial production grew less than expected in July

According to the report from INSEE, in July 2020, output continued to recover in the manufacturing industry (+4.5%, after +14.8% in June), as well as in the whole industry (+3.8%, after +13.0% in June). Economists had expected a 5.0% increase in the whole industry.

Compared to February (the last month before the start of the general lockdown), output declined in the manufacturing industry (−7.9%), as well as in the whole industry (−7.1%).

Over the last three months, manufacturing output increased in manufacturing industry (+5.4%), as well as in the whole industry (+5.0%). Over this period, output continued to recover in all industrial activities. 

Manufacturing output of the last three months declined sharply compared to the same three months of 2019 (−15.3%), as well as in the whole industry (−14.3%).

Over a year, output plunged in the manufacture of transport equipment (−36.5%) and in the manufacture of coke and refined petroleum products (−31.7%). It fell strongly in “other manufacturing” (−13.6%), in the manufacture of machinery and equipment goods (−13.6%) and in mining and quarrying, energy, water supply (−8.9%). It diminished more moderately in the manufacture of food products and beverages (−3.5%).