French industrial production rose more than expected in September

According to the report from INSEE, in September 2020, output increased in the manufacturing industry (+2.2%, after +0.8%) as well in the whole industry (+1.4%, after +1.1%). Economists had expected a 0.8% 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 (−5.5%), as well as in the whole industry (−5.1%).

In September, output increased again in the manufacture of transport equipment (+8.8% after +5.0%) and in “other manufacturing” (+1.2% after +2.1%). It bounced back in the manufacture of machinery and equipment goods (+3.1% after −4.1%) and in the manufacture of coke and refined petroleum (+11.4% after −6.9%). It was virtually stable in the manufacture of food products and beverages (0.0% after −2.0%) whereas it decreased in mining and quarrying, energy, water supply (−2.8% after +2.9%).

In September, output yet remained below its February level in most industrial activities. It plummeted in the manufacture of transport equipment (−12.1%), in the manufacture of coke and refined petroleum (−7.4%) and in the manufacture of machinery and equipment goods (−6.7%). In “other manufacturing”, output mainly declined in the manufacture of basic metals and fabricated metal products (−7.4%) and in chemicals (−7.1%) while it was up in pharmaceuticals (+6.5%). In the manufacture of food products and beverages, output had been less impacted and had returned to the pre-lockdown level since June − July.