On Friday, data from the French statistical office, INSEE, revealed an unexpected decline in industrial production in March, following a rebound the previous month. There was a 0.3 percent drop in industrial output on a monthly basis, subverting the 0.2 percent rise seen in the previous month. Economists had originally predicted a 0.3 percent rise.
Likewise, there was a contraction of manufacturing output in March by 0.5 percent, contradicting the 1.0 percent rise in February - the largest observed in nine months. In specific industries, the production of refined products and coke decreased by 4.6 percent, following a significant 8.6 percent rebound the previous month. Additionally, the production of machinery and equipment goods declined by 3.7 percent.
However, transport equipment saw an output increase of 2.3 percent in March, recovering from a 2.9 percent drop the previous month. There were some positive figures though, with output growth in extractive industries only slightly reducing to 0.1 percent from 7.4 percent. Also, construction production switched gears, showing positive growth of 1.1 percent, compared to a 2.1 percent decrease in February.
