Data published by INSEE showed that industrial production fell by 0.9% in September, almost offsetting the August increase (+1.1%, revised from +1.4%) and recording the first decline in the last 4 months. Economists had expected production to fall by 0.7%. Meanwhile, manufacturing output fell by 0.8% after rising by 1.4% in August.
INSEE said that output fell back in the “other manufacturing industries” (‑1.8% after +2.4%), specifically in the manufacture of pharmaceutical products and pharmaceutical preparations (‑11.7% after +18.8%). Output decreased again in mining and quarrying, energy, water supply (‑1.2% after ‑0.1%) and in the manufacture of machinery and equipment goods (‑0.9% after ‑1.7%). On the contrary, it bounced back in the manufacture of food products and beverages (+0.8% after ‑0.4%) and in the manufacture of coke and refined petroleum products (+3.2% after ‑2.2%). It increased again in the manufacture of transport equipment (+0.7% after +3.4%).
Over the past three months (through September), industrial production fell by 0.6% per annum, while manufacturing production decreased by 0.9% per annum. Output fell in the manufacture of transport equipment (‑5.5%), in the manufacture of machinery and equipment goods (‑2.6%), due to the strong decrease in the manufacture of machinery and equipment n.e.c (‑6.3%), and in the manufacture of coke and refined petroleum products (‑7.4%). On the contrary, it increased in mining and quarrying, energy, water supply (+1.5 %). It increased more moderately in the “other manufacturing industries” (+0.4%) and in the manufacture of food products and beverages (+0.4%).