Industrial production grew by 1.1% in December

French industrial production grew by 1.1% in December compared to November, the second consecutive month of rise in the indicator due to a strong rebound in production (+6%) in the extractive, energy and water industries, according to data published this Friday by the INSEE.

Other important components of industrial production, manufacturing production increased more modestly (+0.3% in one month), while the construction sector experienced a slight fall (-0.1%). In November, industrial production had increased by 2%, recalls the National Institute of Statistics and Economic Studies.

The good performance of the extractive, energy and water industries is explained in particular by “a marked increase (…) in the distribution of gaseous fuels” and in the production of electricity, while several nuclear reactors restarted in December after of months of closing. In November, the production in this branch still fell by 0.3% in one month.

Within the manufacturing sector, the production of transport material jumped 8.3% in December compared to November, that of the agri-food industry, on the other hand, fell 1.7%.

Slight decline despite everything in the last quarter of 2022

Despite the good results registered in November and December, industrial production in the fourth quarter of 2022 fell by 0.2% compared to the same period in 2021, “due to the decrease in energy production”, details the ‘Insee .

According to an estimate by France Industrie, the Minister of the Economy, Bruno Le Maire, had forecast in mid-October a much more brutal drop in one year (10%) in industrial production in the fourth quarter of 2022.

According to figures published this Friday by INSEE, between the last quarter of 2021 and 2022, production in the extractive industries, energy and water branches plummeted by 14.5%, a fall insufficiently offset by the increases registered in the industry. manufacturing (+ 2.6%) and construction (+3%).

Industrial production in the fourth quarter of 2022 is also slightly lower (-0.7%) than in the previous quarter.