France: Industrial activity dips in September
Latest reading: Industrial output decreased 0.9% in month-on-month seasonally adjusted terms in September, which contrasted August’s 1.1% increase. This was the fourth contraction so far this year. The reading reflected a broad-based downturn across the major sectors, with manufacturing, mining and quarrying and energy all contracting in September.
On an annual basis, industrial output fell 0.6% in September (August: +0.1% yoy). Accordingly, annual average industrial production growth fell to 0.2% in September (August: +0.3%), signaling a worsening trend in the industrial sector.
Outlook: French industrial output will be a key drag on the overall economy this year, but should return to growth in 2025 amid improved external demand.