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French IP Recovery Ongoing, But At Slower Pace

FRANCE DATA
MNI (London)

FRANCE AUG IP +1.3% M/M, -6.2% Y/Y; JUL +3.8% M/M


  • French IP improved further in Aug, although at a slower speed than in the previous months.
  • Monthly IP rose 1.3% in Aug and came in slightly below market expectations looking for an uptick by 2.0%
  • Manufacturing output grew be a meagre 1.0% in contrast to markets projecting an increase by 2.5%.
  • Compared to Feb, production is still 6.3% lower, while manufacturing output is 7.4% below the pre-crisis levels.
  • Annual IP fell further in Aug by 6.2% and it showed the smallest decline since Feb.
  • All major categories except for consumer non-durables (-2.3%) showed a m/m increase with consumer durables (8.1%) leading the way.
  • Intermediate goods rose 3.6%, while energy output was up 2.1% and capital goods edged up 1.3% in Aug.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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