France Industrial Output Posts Surprise Fall

Industrial production in France rose 0.5% month-on-month in January 2026, in line with market expectations, rebounding from a 0.5% decline in December. Manufacturing output increased 0.6% after falling 0.7% the previous month, driven solely by a surge in the manufacture of transport equipment (+9.9% vs -12.8% in December), particularly other transport equipment (+19.1% vs -20.1%) and more specifically in aerospace construction. Conversely, output fell mainly in food products and beverages (-0.8% vs +1.9%), coke and refined petroleum products (-3.4% vs -0.9%), and computer, electronic, and optical products (-0.5% vs +1.9%). Production in mining and quarrying, energy, and water supply was stable (0.0% vs +0.1%), while construction output declined 1.4% as all construction activities fell. On a yearly basis, industrial activity rose 1.9%, while on a three-month basis it increased 0.1% compared with the prior period.

Industrial production in France fell by 0.7% month-on-month in December 2025, reversing an upwardly revised 0.1% gain in the previous month and defying market expectations of a 0.2% increase. This marked the first decline since August, as manufacturing output slipped (-0.8% vs 0.5%), driven mainly by a sharp fall in the manufacture of transport equipment (-9.9% vs 3.8%). The drop was led by declines in the manufacture of other transport equipment (-15.8% vs 4.3%), particularly in aerospace construction, where the steep fall in December offset the gains recorded over the previous three months. Moreover, output in water supply, sewerage, waste management and remediation fell significantly (-2.1% vs -0.2%). In contrast, output declined at a softer pace in mining and quarrying (-0.2% vs -1.7%) and electricity, gas, steam and air-conditioning supply (-0.1% vs -1.8%). On a quarterly basis, industrial production rose 0.3%, while the year-on-year output increased 1.8%.

Industrial production in France fell 0.1% month-on-month in November 2025, following a 0.2% gain in October and compared with expectations of a flat reading. Extractive industries, energy, and water declined (-1.9% vs +1.9% in October), mainly due to lower electricity, gas, and steam production (-2.0% vs +1.8%). Production also fell in other industrial products (-0.3% vs +0.1%), food processing (-0.5% vs +0.1%), and coking and refining (-0.8% vs +3.6%). Meanwhile, manufacturing rebounded 0.3% after a 0.1% decline, driven by a surge in transport equipment (+2.6% vs -0.3%), with automotive production (+2.7% vs -4.1%) and other transport equipment (+2.6% vs +1.9%) posting strong gains. Over the last three months, industrial production rose 1.8%, while year-on-year output increased 0.3%.