Data published by INSEE showed that industrial production increased by 1.4% in August, accelerating compared to July (+0.2%, revised from -0.5%), and recording the sharpest increase since May 2023. Economists had expected production to grow by 0.2%. Meanwhile, manufacturing output grew by 1.6% after falling by 0.2% in July.
INSEE said that output increased in the “other manufacturing industries” (+2.8% after +0.1%) and in the manufacture of transport equipment (+3.3% after ‑4.7%). It went up slightly in mining and quarrying, energy, water supply (+0.4% after +2.0%). On the contrary, output fell back in the manufacture of machinery and equipment goods (‑1.1% after +4.2%) and in the manufacture of food products and beverages (‑0.5% after +0.2%). It decreased again in the manufacture of coke and refined petroleum products (‑2.4% after ‑9.9%).
Over the past three months (through August), industrial production fell by 0.7% per annum, while manufacturing production decreased by 1.1% per annum. Output fell in the manufacture of transport equipment (‑6.0%), in the manufacture of machinery and equipment goods (‑3.3%) and in the manufacture of coke and refined petroleum products (‑4.7%). It decreased more moderately in the manufacture of food products and beverages (‑0.5%). On the contrary, it increased in the “other manufacturing industries” (+0.6%) and in mining and quarrying, energy, water supply (+1.2%).