Industrial production in France has shifted at its most dramatic rate since May, showing a 1.1% jump in December.
ADVERTISEMENTThe data, released on Thursday, looks at output in a number of areas, including the gas, electricity, goods, and mining sectors.
December’s results were particularly upbeat, with production rising by 1.1% on the month, following a marginal increase of 0.5% from October to November.
Compared with the fourth quarter of 2022, industrial production also jumped by 1.1% in the last three months of the year.
Despite this, France’s national statistics agency (INSEE), has warned that seasonal adjustments may have inflated the figures.
INSEE boosts end-of-year results to compensate for workers taking holidays in December but, the agency pointed out for this year, a high proportion of vacations were planned in January.
Due to the shift in holidays, this month’s numbers may be unnaturally high.
INSEE also highlighted significant variations across the output of different sectors.
«The manufacture of transport equipment has been sustained by a rebound effect ([although] activity in the sector remains well bellow its pre-crisis level), while the manufacture of food products has been penalised by the sharp decline of food consumption,» the agency told Euronews Business.
Output in some energy-intensive industries remained lower in the last quarter of 2023, compared with the second quarter of 2021, as high electricity and gas prices hindered production.
The industry data arrives at the end of a week filled with economic announcements.
France’s GDP results were released on Tuesday, showing underwhelming annual growth of 0.9%. On Wednesday, the country reported easing inflation numbers.
