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Financial News: French Industrial Output Falls Slightly In April

French Industrial Output Falls Slightly In April

06/03/2022 - 06:01:00 (RTTNews)

(RTTNews) - France industrial production dropped slightly in April as the contraction in manufacturing was partially offset by increases in mining and construction output, data published by the statistical office Insee showed on Friday.

Industrial production fell 0.1 percent in April from March, when output was down 0.4 percent. Output was forecast to grow 0.3 percent.

The decline in manufacturing output doubled to 0.4 percent from 0.2 percent. Within manufacturing, food products and beverages output slid 2.0 percent and machinery and equipment goods production decreased 0.8 percent. By contrast, transport equipment grew 5.1 percent.

Further, data showed mining and quarrying output gained 1.6 percent and construction output grew 1.2 percent.

Data indicate that the French industrial sector suffered heavily from the effects of the war in Ukraine, price rises, supply difficulties and the lockdowns in China, Charlotte de Montpellier, an ING economist, said.

Given the confidence indicators, industrial production could fall further in May, the economist noted.

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