France's industrial production rose by 0.3% from a month earlier in November 2019, after an upwardly revised 0.5% increase in the prior month and beating market forecasts of a 0.1% gain. Manufacturing output dropped slightly (-0.1% vs 0.6% in October), weighed down by other manufacturing (-1.3% vs 2.1%), mostly pharmaceuticals (-13.3% vs 9.7%) and basic metals & fabricated metal products (-1.5% vs 1.1%). In contrast, gains were recorded in production of coke & refined petroleum products (2.2% vs -12.6%), due to the restart of a refinery which stopped for maintenance for two months; food products & beverages (0.7% vs -0.3%); machinery & equipment goods (0.6% vs -1.3%) and transport equipment (3.1% vs -0.8%). Also, output rebounded for mining and quarrying; energy; water supply; waste management (2.2% vs -0.1%). Year-on-year, industrial activity grew 1.3% after decreasing 0.1% in the prior month. Industrial Production Mom in France averaged 0.04 percent from 1990 until 2019, reaching an all time high of 4 percent in November of 2005 and a record low of -5 percent in November of 2008. source: INSEE, France
Industrial Production Mom in France is expected to be -0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production Mom in France to stand at 0.40 in 12 months time. In the long-term, the France Industrial Production MoM is projected to trend around 0.50 percent in 2020, according to our econometric models.