French industrial production grew less than expected in July

According to the report from the Insee, in July 2021, output increased again in the manufacturing industry (+0.6%, after +1.0%), as well as in the whole industry (+0.3%, after +0.6%). Economists had expected a 0.4% increase in the whole industry.

Compared to February 2020 (the last month before the first general lockdown), output remained in sharp decline in the manufacturing industry (–5.5%), as well as in the whole industry (–4.8%).

In July 2021, output increased again in the manufacture of transport equipment (+2.9% after +3.0%), in the manufacture of food products and beverages (+1.7% after +0.3%) and in the manufacture of machinery and equipment goods (+0.7% after +1.2%). On the contrary, it declined in mining and quarrying, energy, water supply (–0.8% after –1.8%). 

In July 2021, output remained in sharp decline compared to its February 2020 level in most industrial activities. It collapsed in the manufacture of transport equipment (−25.5%), both in the manufacture of motor vehicles, trailers and semi-trailers (−27.6%) and in the manufacture of other transport equipment (−24.1%). It declined sharply in the manufacture of coke and refined petroleum (−12.4%). Output decreased more moderately in “other manufacturing” (−3.3%), in the manufacture of machinery and equipment goods (−3.0%) and mining and quarrying, energy, water supply (−0.7%). Output in the manufacture of food products and beverages was above its February 2020 level (+2.6%).