03.04.202607:09:49UTC+00France Industrial Output Unexpectedly Falls

Industrial production in France declined by 0.7% month-on-month in February 2026, reversing a downwardly revised 0.2% rise in January and surprising markets, which had expected no change. Manufacturing output was flat after a 0.2% increase in the previous month: a sharp contraction in transport equipment (-0.8% vs 8.5%) was offset by a rebound in other industrial manufacturing (0.4% vs -1.0%) and a slightly smaller drop in agri-food products (-0.8% vs -0.9%).

Overall industrial activity was further dragged down by mining, quarrying, energy, and water supply, which swung from a 0.3% increase to a 3.2% decline, mainly due to a fall in electricity, gas, steam, and air conditioning output (-3.2% vs 0.2%). Meanwhile, construction output continued to contract but at a marginally slower pace (-1.3% vs -1.4%), reflecting more moderate declines in civil engineering (-5.3% vs -6.7%) and building construction (-0.4% vs -3.6%).

On an annual basis, industrial production slipped 0.3% in February, following a 1.9% increase in January 2026.