Industrial production

In the third quarter, the indicator increased by 0.2% y/y, but decreased by 0.2% q/q

In September 2023, industrial production in France decreased by 0.4% compared to the previous month. Thus, the indicator accelerated the rate of decline, after decreasing by 0.3% m/m in August. This is evidenced by the data of the French National Institute of Statistics and Economic Research (INSEE).

In the third quarter of 2023, French industrial production increased by 0.2% compared to July-September 2022, but fell by 0.2% compared to the previous quarter.

In the steel industry (production of metals and steel products) in September, production increased by 2.2% compared to the previous month, after a decrease of 0.8% in August. The coking and refining sector showed the biggest monthly growth – 3.8%, and the automotive sector showed the biggest drop. Production in the construction industry increased by 1.8% m/m in September after falling by 1.4% y/y in August.

In the second quarter, production in the steel industry increased by 0.6% q/q, but fell by 0.5% y/y, in the construction industry – fell by 1.2% q/q, but increased by 0.1% y/y, and in the automotive industry – decreased by 1.6% q/q, but increased by 1.3% y/y.

As GMK Center reported earlier, steel enterprises of France in September 2023 steel production increased by 7.1% compared to the same month of 2022 – to 857 thousand tons. In January-September 2023, French steelmakers produced 7.32 million tons of steel, which is 23.5% less compared to the same period last year.