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

FRANCE DATA: Industrial Production (May 2020) 

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- French IP rebounded to 19.6% m/m in May, exceeding market expectations (BBG:

15.4%) 

- Annual output fell again by 23.4%, albeit at a slower pace than in April. 

- Manufacturing production recovered as well, up 22.0% m/m, while it fell 25.2%

y/y. 

- Consumer durable goods saw the largest m/m increase (+186.7%), followed by

intermediate goods (28.8%) and capital goods (28.5%). 

- Consumer non-durable goods and energy output both gained 7.7% in May 

- On an annual basis, consumer non-durable goods (-12.9%) and energy output

(-15.1%) recorded the smallest declines. 

- Consumer durable goods fell 29.9%, however they saw the largest y/y

improvement, followed by intermediate goods (-23.8%) and capital goods (-34.5%).