Data published by INSEE showed that industrial production fell by 0.3% in March, offsetting the February increase (+0.2%). Economists had expected production to grow by 0.3%. Meanwhile, manufacturing output declined by 0.5% after rising by 1.0% in February.
INSEE said that production fell back in the “other manufacturing industries” (-0.8% after +1.4%), in the manufacture of machinery and equipment goods (-1.1% after +1.5%), in the manufacture of coke and refined petroleum products (-4.6% after +8.6%) and in the manufacture of food products and beverages (-0.4% after +1.3%). On the contrary, output bounced back in mining and quarrying, energy, water supply (+0.7% after -3.8%) and in the manufacture of transport equipment (+2.3% after -2.9%).
Over the past three months (through March), industrial production increased by 0.3% per annum, while manufacturing production rose by 0.4% per annum. Output went up in the “other manufacturing industries” (+1.3%), in the manufacture of food products and beverages (+0.8%) and in the manufacture of coke and refined petroleum products (+1.8%). On the contrary, it decreased in the manufacture of machinery and equipment goods (-2.8%) and in the manufacture of transport equipment (-0.8%).