Industrial Production (May 2020)........>

FRANCE DATA: Industrial Production (May 2020) Preview - 0745 BST

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- IP: BBG Cons: 15.4% m/m, -24.0% y/y; Prev (Apr): -20.1% m/m, -34.2% y/y 

- Mfg Prod: BBG Cons: 22.8% m/m, -23.6% y/y; Prev (Apr): -21.9% m/m, -37.1% y/y 

- Monthly IP is forecast to recover in May with markets pencilling in an uptick

to +15.4%, while mfg output is seen higher at 22.8%. 

- Annual production is still projected to post a negative reading with markets

looking for a 24.0% decline for production. 

- Output plummeted to -20.1% m/m in Apr, while y/y production slumped by 34.2%. 

- Similarly, mfg output dropped 21.9% m/m in Apr and declined by 23.6% y/y. 

- Apr's survey results are based on less answers than usual due to the lockdown.

- Insee further state that Apr's figures are likely to be revised in the next

publication as late answers are taken into account. 

- Looking ahead, survey evidence suggests further improvement in Jun: 

- France's manufacturing PMI shifted back into expansion in June and Insee's

manufacturing sentiment index ticked up for the second successive time.