--French Apr industrial output -0.3% on month vs rev -0.3% Mar
--French Apr manufacturing output -0.7%/month vs rev -0.4% Mar
--French Apr industry output well below market forecasts
Paris, June 15 (BridgeNews) - French industrial output fell a monthly 0.3% in April as production slowed in the automobile and semi-finished goods sectors, according to national statistics institute INSEE. Manufacturing output, which excludes energy, food and construction, fell 0.7% from the prior month. The data was below market expectations. (See table .6662).
Production for the month of March, was revised lower, with industry output revised to down 0.3%, originally reported as down 0.2%, and manufacturing output revised to down 0.4%, originally reported down 0.2%. On a year-over year basis, April industry production rose 2.0% and manufacturing output was up 2.6%. A recent survey of French bosses showed business confidence continuing to slide, with sentiment weakest in the intermediate goods sector. That survey showed that the recent slowdown is expected to continue over coming months. Those questioned say orders have fallen and stock levels are above average levels. A more recent Bank of France survey of business executives, however, forecast a modest pick-up in overall industrial activity in the coming months.
Output in the intermediate goods sector fell in April, down 1.0% following a 0.5% decline in March, and continuing a downward slide started late in 2000. Slowing automobile output also acted as a drag on the index with output falling 2.3% on the month. In March automobile output had been stable following several months of robust growth. These negative factors were not offset by a 0.6% rise in consumer goods production after a drop of 0.9% the prior month. The April data reversed a downward trend in this sector which began at the end of last year. Construction output rose 1.3% after a 0.7% decline in March while output of capital goods shrank 0.3% after a 0.3% drop the previous month.