French industrial production increased by 1.3% in August

According to the report from INSEE, in August 2020, output increased more modestly than in July in the manufacturing industry (+1.0%, after +4.5%), as well as in the whole industry (+1.3%, after +3.8%). Economists had expected a 1.7% increase in the whole industry.

Compared to February (the last month before the beginning of the general lockdown), output remained significantly lower in the manufacturing industry (−7.4%), as well as in the whole industry (−6.3%).

In August, output increased again, but at a slower rate than in July, in “other manufacturing” (+2.4% after +4.1%), in the manufacture of transport equipment (+5.9% after +8.5%) and in mining and quarrying, energy, water supply (+2.8% after +0.2%). It fell back in the manufacture of machinery and equipment goods (−4.0% after +7.5%) and in the manufacture of food products and beverages (−2.0% after +2.0%). It kept decreasing sharply in the manufacture of coke and refined petroleum (−6.9% after −7.1%).

In most industrial activities, output yet remained below its February level. It plummeted in the manufacture of transport equipment (−18.4%), in the manufacture of coke and refined petroleum (−17.4%) and in the manufacture of machinery and equipment goods (−9.4%). Conversely, taking into account the increase observed in August, output got closer to its February level in the manufacture of basic metals and fabricated metal products (−3.5%) and in manufacturing of rubber and plastics products (−2.2%). In the manufacture of food products and beverages, output was less impacted and returned to a standard level since June − July.