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French IP dips below expectations

FRANCE DATA
MNI (London)

FRANCE NOV IP -0.4% M/M, -0.5% Y/Y; OCT 0.9% M/M

  • French industrial production came in almost one point below market expectations, dipping to -0.4% m/m (+0.5% m/m expected) in November from October's reading of +0.9% m/m.
  • On the year, French IP failed to extend the recovery, remaining at the October level of -0.5% y/y in November (+0.6% y/y expected).
  • Since the onset of the pandemic in February 2020, French manufacturing and IP has seen substantial declines of -5.8% and -5.0% respectively.
  • Transport production (except automobiles) fell sharply (-4.6% in November, compared to +0.8% in October) as well as other transport equipment (-13.1% in November, +12.9% in October).
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