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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FRANCE DATA
MNI (London)
FRANCE MAR IND PROD -1.1% M/M (FCST -0.4%); FEB +1.4% M/M
FRANCE MAR IND PROD -0.1% Y/Y (FCST 1.1%); FEB +0.9% Y/Y
- Kicking off the round of eurozone IP data, French industrial production contracted by -1.1% m/m in March, slightly worse than the -0.4% m/m dip expected by consensus.
- Refining noted the largest decline, falling -45.6% m/m largely due to strike action.
- Production declined across capital goods (-0.9%) and slightly in agro-food (-0.2%), whilst transport was marginally expansive (+0.2% m/m) due to continued automotive growth, boosted by easing supply chain pressures.
- Q1 2023 IP was flat on the quarter and down -0.6% q/q for manufacturing.
- Looking forward, April's manufacturing PMI signalled a contractionary start to Q2, and the fastest deterioration in business conditions since May 2020. Weakening demand (especially in exports) saw new orders fall at the fastest pace since 2020. As such, French industrial sector outlooks remain stagnant.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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