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FR: Industrial Production
| Consensus | Consensus Range | Actual | Previous | Revised | |
| Month over Month | 0.3% | -0.6% to 0.8% | 0.1% | -0.3% | -0.1% |
| Year over Year | -0.1% | 3.2% | 3.1% |
Highlights
Industrial output was little changed in June after a strong showing in May, with production up 0.1 percent month-on-month and down 0.1 percent year-on-year. The previous month saw a revised 3.1 percent (3.2%) increase from the same year-ago period.
The monthly result is slightly better than the median of minus 0.1 percent as per an Econoday survey of economists’ forecasts.
Overall manufacturing output fell 1.1 percent from a month ago, while it was up 1.1 percent compared to June of last year. Within the sector, transportation equipment production was 3.8 percent lower than a month ago, but managed a 4.7 percent year-on-year increase.
Turning to energy, output of electricity, gas, steam and air conditioning rose 3.8 percent month-on-month and 5.1 percent year-on-year. With a brutal heatwave searing France in July and now into August, sectoral production is likely to remain elevated.
Among the major industrial groupings, energy output was 3.9 percent higher in June that in May and 5.0 percent higher than a year-ago. Consumer durables saw production increase 2.1 percent in June, while capital goods, intermediate goods, and consumer durables all saw declines on the month.
June data should not cause too many worries considering the year-on-year result came after an incredibly strong performance in June, coupled with a decline in transportation which is a volatile number. Moreover, the increase in consumer durables could be indicating a pickup in consumer willingness to spend on larger items.
Market Consensus Before Announcement
Forecasters expect a moderate 0.3 percent increase in output on the month to recover the 0.3 percent decrease in May.