• French industrial production grew less than expected in July

Market news

10 September 2021

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%).

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