In France things are not going as they should go, especially from an industrial point of view.
There industrial production of France fell 0.3% month-on-month in March 2024, reversing the previous month’s 0.2% growth and against market forecasts of a 0.3% gain.
Manufacturing production collapsed (-0.5% compared to 1% in February), mainly due to declines in the manufacturing of food and beverage products (-0.4% compared to 1.3%) and coke and refined petroleum products (-4.6% compared to 8.6%).
Meanwhile, production rebounded for mining and quarrying, energy, water supply and waste management (0.7% vs -3.8%), as well as construction production ( 1.1% vs -2.1%).
On an annual basis, industrial production grew 0.7% in March, recovering from the previous month’s downwardly revised 0.6% decline. However, the growth is gradually reduced compared to what was recorded in the previous month
Here is the relevant graph
If you notice what makes manufacturing production positive on an annual basis is related to the April-May results of last year. The last few months have been bad.
Doesn’t all of Macron’s military interventionism derive from the need to keep his factories working? Because, perhaps the only way to make the French industry work is to produce weapons that are then sown on the battlefields of half the world.
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