2023.06.0208:10:00UTC+00French Industrial Production Recovers In April

France's industrial production rebounded in April with the sharp recovery in petroleum output, the statistical office INSEE reported Friday.

Industrial output logged a monthly growth of 0.8 percent, reversing the 1.1 percent decrease in March. Production was expected to climb 0.3 percent.

Similarly, manufacturing output advanced 0.7 percent, in contrast to the 1.1 percent fall in the prior month.

Production of coke and refined petroleum products surged 23.6 percent after a 45.2 percent decline as the strikes in refineries were less significant than in March.

Production of machinery and equipment goods gained 1.4 percent, while manufacture of food products and beverages dropped 0.3 percent.

At the same time, the transport equipment output grew 2.0 percent and other manufacturing gained 0.3 percent, data showed.

Mining and quarrying output increased 1.8 percent after a 1.2 percent fall in March. Likewise, the construction output rose 0.8 percent, following a 0.9 percent fall in the previous month.

However, official data contrasted with the findings of the latest Purchasing Managers' survey released by S&P Global on Thursday.

The private survey suggested that manufacturing activity extended the downturn that began in the middle of 2022.

The HCOB factory PMI fell to 45.7 from April's 35-month low of 45.6. The score below the threshold 50.0 suggested a notable worsening of business conditions.

Due to falling demand, factory output declined in May. The latest fall marked the twelfth consecutive month, but the decrease was less pronounced that April's near three-year record.