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Financial News: French Industrial Production Declines In April

French Industrial Production Declines In April

06/10/2020 - 03:17:00 (RTTNews)

(RTTNews) - French industrial production declined sharply in April due to the containment measures related to coronavirus, or Covid-19, pandemic, data from the statistical office Insee showed Wednesday. Industrial production dropped 20.1 percent from March, when output was down 16.2 percent. Economists had forecast a monthly fall of 20 percent in April.

Similarly, manufacturing output decreased 21.9 percent on a monthly basis after easing 18.3 percent in March.

Manufacture of transport equipment posted the biggest monthly fall of 47.5 percent. Manufacture of electrical equipment and machinery dropped 30 percent and 23.2 percent, respectively.

Compared to February, before the start of the general lockdown, output fell by 36.2 percent in manufacturing and 33.1 percent in the whole industry, the Insee said.

Data showed that mining and quarrying output declined 11.2 percent and construction output slid 32.7 percent on month in April.

In three months to April, industrial and manufacturing output decreased 15.8 percent and 17.4 percent respectively.

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