Latest data released by INSEE - 7 February 2020
- Prior +0.3%
- Industrial production -3.0% vs +1.0% y/y expected
- Prior +1.3%; revised to +0.9%
- Manufacturing production -2.6% vs +0.1% m/m expected
- Prior -0.1%; revised to -0.4%
- Manufacturing production -3.2% vs +1.2% y/y expected
- Prior +1.2%; revised to +0.9%
Yikes, those are some awful figures with negative revisions to boot. The only bright side is that the French economy relies much more heavily on its services sector and that this pertains to Q4 data - which should be accounted for by the surprise GDP contraction last week.
But in any case, this won't add to the positive data deluge recently from the euro area - following Germany's dismal factory orders and industrial output data this week.
