Informations Rapides ·
5 July 2024 · n° 171
In May 2024, manufacturing output decreased sharply (‑2.7%) Industrial production index - May 2024
In May 2024, output decreased sharply over a month in the manufacturing industry (‑2.7% after +0.5% in April 2024) and in the whole industry (‑2.1% after +0.6%).
All the evolutions in this publication are seasonally and working day adjusted (SA-WDA). However, this year, the positioning of public holidays may have amplified the reduction of activity in may. In particular, the activity of Friday 10th May may have been strongly reduced, as the two previous days were public holidays (8th May and Ascension Thursday). But the 10th May is not a public holiday, it is considered as a normal day for the SA-WDA processing.
- Over a month, output fell back in almost all industries
- Over a year, manufacturing output for the last three months was down by 0.5%
- Output in some energy-intensive industries remained low compared to their 2021 level
- The monthly evolution of the April 2024 manufacturing index has been revised upwards
- For more information
In May 2024, output decreased sharply over a month in the manufacturing industry (‑2.7% after +0.5% in April 2024) and in the whole industry (‑2.1% after +0.6%).
tableauMonthly Industrial Production Indices
| (C1) | (C3) | (C4) | (C5) | CZ | |
|---|---|---|---|---|---|
| 2024-05 | 97.86 | 99.95 | 110.02 | 97.91 | 100.07 |
| 2024-04 | 98.41 | 104.74 | 110.77 | 101.5 | 102.86 |
| 2024-03 | 99.1 | 101.88 | 113.54 | 100.6 | 102.37 |
| 2024-02 | 99.61 | 103.02 | 111.31 | 101.0 | 102.72 |
| 2024-01 | 98.27 | 101.09 | 114.34 | 99.5 | 101.5 |
| 2023-12 | 96.96 | 100.75 | 120.77 | 101.61 | 103.38 |
| 2023-11 | 95.41 | 106.34 | 119.37 | 100.01 | 102.92 |
| 2023-10 | 96.86 | 104.05 | 118.01 | 99.83 | 102.67 |
| 2023-09 | 96.26 | 104.54 | 115.41 | 99.9 | 102.48 |
| 2023-08 | 97.59 | 104.45 | 119.9 | 98.97 | 102.56 |
| 2023-07 | 98.42 | 105.3 | 113.27 | 99.49 | 102.36 |
| 2023-06 | 98.79 | 105.84 | 118.89 | 98.49 | 102.65 |
| 2023-05 | 98.3 | 108.23 | 121.79 | 100.21 | 104.17 |
| 2023-04 | 98.03 | 104.81 | 117.67 | 98.46 | 101.39 |
| 2023-03 | 98.63 | 104.5 | 116.1 | 98.97 | 101.2 |
| 2023-02 | 98.27 | 105.36 | 117.91 | 99.23 | 102.79 |
| 2023-01 | 97.98 | 104.85 | 109.26 | 98.76 | 101.47 |
| 2022-12 | 98.12 | 101.38 | 115.46 | 100.26 | 102.42 |
| 2022-11 | 100.69 | 104.85 | 106.26 | 101.42 | 102.77 |
| 2022-10 | 99.72 | 99.9 | 107.69 | 99.57 | 99.89 |
| 2022-09 | 99.76 | 105.53 | 109.45 | 101.35 | 102.93 |
| 2022-08 | 100.43 | 102.9 | 112.16 | 101.88 | 103.52 |
| 2022-07 | 99.78 | 98.27 | 105.32 | 99.58 | 100.61 |
| 2022-06 | 100.25 | 101.72 | 107.25 | 101.16 | 102.19 |
| 2022-05 | 98.57 | 99.87 | 102.29 | 101.64 | 101.44 |
| 2022-04 | 99.6 | 97.79 | 100.19 | 99.72 | 99.93 |
| 2022-03 | 101.22 | 99.71 | 96.13 | 101.65 | 101.12 |
| 2022-02 | 101.23 | 100.98 | 100.65 | 100.77 | 101.1 |
| 2022-01 | 102.03 | 99.33 | 101.8 | 102.82 | 102.33 |
| 2021-12 | 101.37 | 101.48 | 100.94 | 98.74 | 100.04 |
| 2021-11 | 102.23 | 98.22 | 94.22 | 99.46 | 99.44 |
| 2021-10 | 100.93 | 100.82 | 105.0 | 100.61 | 101.27 |
| 2021-09 | 99.38 | 100.86 | 89.86 | 99.67 | 98.79 |
| 2021-08 | 99.83 | 99.51 | 99.66 | 100.77 | 100.43 |
| 2021-07 | 100.5 | 98.47 | 103.73 | 100.11 | 100.42 |
| 2021-06 | 100.61 | 99.79 | 95.87 | 99.89 | 99.68 |
| 2021-05 | 99.07 | 99.07 | 97.93 | 99.64 | 99.2 |
| 2021-04 | 98.5 | 100.26 | 99.42 | 99.97 | 99.59 |
| 2021-03 | 100.11 | 100.71 | 101.07 | 99.93 | 100.11 |
| 2021-02 | 97.63 | 98.95 | 100.24 | 98.89 | 98.54 |
| 2021-01 | 99.85 | 101.85 | 112.06 | 102.32 | 102.48 |
- Legend: CZ: Manufacturing - (C1): Manufacture of food products and beverages - (C3): Machinery and equipment goods - (C4): Manufacture of transport equipment - (C5): Other manufacturing.
graphiqueMonthly Industrial Production Indices
- Legend: CZ: Manufacturing - (C1): Manufacture of food products and beverages - (C3): Machinery and equipment goods - (C4): Manufacture of transport equipment - (C5): Other manufacturing.
- Sources: INSEE, SSP, SDES
Over a month, output fell back in almost all industries
In May 2024, output fell back in the “other manufacturing industries” (‑3.5% after +0.9%) and in the manufacture of machinery and equipment goods (‑4.6% after +2.8%). It decreased again in the manufacture of food products and beverages (‑0.6% after ‑0.7%) and in the manufacture of transport equipment (‑0.7% after ‑2.4%): it declined sharply for the manufacture of motor vehicles, trailers and semi-trailer (‑6.6% after +1.3%) but it bounced back in the manufacture of “other transport equipment” (+3.3% after ‑4.8%). On the contrary, it increased again in mining and quarrying, energy, water supply (+1.1% after +1.3%) and bounced back in the manufacture of coke and refined petroleum (+3.9% after ‑0.5%).
tableauVariation in the Industrial Production
| NA : A10, (A17), [A38 or A64] | May 2024 | May 2024 / April 2024 | April 2024 / March. 2024 | Quarter-on-quarter change (3) | Year-on-year change (4) |
|---|---|---|---|---|---|
| BE: INDUSTRY | 98.7 | -2.1 | 0.6 | -0.6 | -0.4 |
| CZ: Manufacturing | 100.1 | -2.7 | 0.5 | -0.7 | -0.5 |
| (C1): Man. of food products and beverages | 97.9 | -0.6 | -0.7 | 0.2 | 0.1 |
| (C2): Man. of coke and refined petroleum products | 128.7 | 3.9 | -0.5 | -2.1 | 16.5 |
| (C3): Machinery and equipment goods | 100.0 | -4.6 | 2.8 | 0.6 | -3.5 |
| [CI] Man. of computer, electronic and optical products | 110.0 | -5.0 | 1.5 | 3.3 | 1.1 |
| [CJ] Man. of electrical equipment | 96.6 | -2.3 | 1.6 | -0.8 | -2.3 |
| [CK] Man. of machinery and equipment n.e.c. (1) | 91.1 | -5.4 | 5.3 | -2.1 | -9.4 |
| (C4): Man. of transport equipment | 110.0 | -0.7 | -2.4 | -3.5 | -6.0 |
| [CL1] Man. of motor vehicles, trailers and semi-trailers | 100.0 | -6.6 | 1.3 | -4.2 | -13.1 |
| [CL2] Man. of other transport equipment | 117.1 | 3.3 | -4.8 | -3.0 | -0.9 |
| (C5): Other manufacturing | 97.9 | -3.5 | 0.9 | -0.7 | 0.8 |
| [CB] Man. of textiles, wearing apparel, leather and related products | 117.6 | -5.1 | 9.1 | -0.5 | -1.5 |
| [CC] Man. of wood and paper products; printing and reproduction of recorded media | 94.3 | 0.2 | 2.4 | 2.0 | 2.0 |
| [CE] Man. of chemicals and chemical products | 91.1 | -4.0 | -2.7 | -0.1 | 0.3 |
| [CF] Man. of basic pharmaceutical products and pharmaceutical preparations | 107.3 | -6.0 | 1.8 | -1.3 | 11.3 |
| [CG] Man. of rubber and plastics products, and other nonmetallic mineral products | 87.9 | -4.2 | 0.5 | -0.7 | -5.1 |
| [CH] Man. of basic metals and fabricated metal products, except machinery and equipment | 92.1 | -3.1 | 0.0 | -2.4 | -2.8 |
| [CM] Other manufacturing; repair and installation of machinery and equipment | 108.2 | -3.0 | 1.8 | -0.2 | 3.4 |
| DE: Mining and quarrying; energy; water supply; waste management | 92.0 | 1.1 | 1.3 | 0.0 | -0.1 |
| [BZ] Mining and quarrying | 80.3 | -2.2 | 1.9 | -1.2 | -10.0 |
| [DZ] Electricity, gas, steam and air-conditioning supply | 92.7 | 1.4 | 1.5 | 0.1 | 0.4 |
| [EZ] Water supply; sewerage, waste management and remediation | 89.6 | -0.9 | -1.2 | -1.0 | -1.2 |
| FZ: CONSTRUCTION | 97.4 | -1.0 | -1.1 | -1.7 | -4.3 |
| MIGs (2) | |||||
| Capital goods | 104.7 | -3.2 | 1.2 | -1.2 | -1.7 |
| Intermediate goods | 91.6 | -2.7 | -0.5 | -0.5 | -2.0 |
| Consumer durables | 102.2 | -4.1 | -2.1 | -0.1 | 1.0 |
| Consumer non-durables | 102.4 | -2.5 | 1.0 | -0.4 | 1.5 |
| Energy | 95.5 | 1.6 | 1.1 | -0.2 | 1.8 |
- (1) n.e.c. : not elsewhere classifiable
- (2) Main industrial groupings: definition in Commission regulation EC of 14 June 2007
- (3) Last three months / previous three months
- (4) Last three months / same three months of previous year
- Sources: INSEE, SSP, SDES.
Over a year, manufacturing output for the last three months was down by 0.5%
Output of the last three months (March to May 2024) was lower than that of the same months of the previous year in the manufacturing industry (‑0.5%) like in the whole industry (‑0.4%).
Over this one-year period, output in the manufacture of transport equipment and in the manufacture of machinery and equipment goods went down sharply (‑6.0% and ‑3.5% respectively). On the contrary, it increased slightly in the “other manufacturing industries” (+0.8%) and very strongly in the manufacture of coke and refined petroleum products (+16.5%). It was practically stable in the manufacture of food products and beverages (+0.1%) and in mining and quarrying, energy, water supply (‑0.1%)
Output in some energy-intensive industries remained low compared to their 2021 level
In the context of high electricity and gas prices invoiced to firms given the contracts agreed in 2022 and 2023 for 2024, energy-intensive industries are particularly exposed to rising production costs, which may affect their output. Output of the last three months (March to May 2024) remained thus down sharply compared to that of the second quarter of 2021 (last quarter before the sharp rise of energy prices), particularly in the manufacture of basic iron and steel and of ferro-alloys (‑26.0%), the manufacture of basic chemicals (‑14.7%), the manufacture of glass and glass products (‑12.4%) and the manufacture of pulp, paper and paperboard (‑11.2%).
tableauMonthly industrial production index in five energy-intensive industries
| Pulp, paper and paperboard (171) | Basic chemicals (201) | Glass and glass products (231) | Basic iron and steel and ferro-alloys (241) | Basic precious and other non-ferrous metals (244) | |
|---|---|---|---|---|---|
| 2024-05 | 88.5 | 78.42 | 85.06 | 77.29 | 94.38 |
| 2024-04 | 88.65 | 84.15 | 88.56 | 72.1 | 97.58 |
| 2024-03 | 87.39 | 90.48 | 87.29 | 76.33 | 97.79 |
| 2024-02 | 92.11 | 84.24 | 89.77 | 77.32 | 99.56 |
| 2024-01 | 84.55 | 83.64 | 83.91 | 77.62 | 95.42 |
| 2023-12 | 82.04 | 85.7 | 82.16 | 83.61 | 102.19 |
| 2023-11 | 84.07 | 90.11 | 85.25 | 84.97 | 94.65 |
| 2023-10 | 84.33 | 91.81 | 84.48 | 74.8 | 93.37 |
| 2023-09 | 85.68 | 88.67 | 88.5 | 84.87 | 90.95 |
| 2023-08 | 84.66 | 83.64 | 90.3 | 83.03 | 92.3 |
| 2023-07 | 83.79 | 84.92 | 92.25 | 58.9 | 90.67 |
| 2023-06 | 73.96 | 84.01 | 93.02 | 48.41 | 93.72 |
| 2023-05 | 77.59 | 87.5 | 98.1 | 56.55 | 92.76 |
| 2023-04 | 79.34 | 83.74 | 93.57 | 82.6 | 90.5 |
| 2023-03 | 75.25 | 81.01 | 94.27 | 84.07 | 90.56 |
| 2023-02 | 78.8 | 83.18 | 96.14 | 60.74 | 91.14 |
| 2023-01 | 79.7 | 78.48 | 97.42 | 82.99 | 87.13 |
| 2022-12 | 82.06 | 79.43 | 99.54 | 79.44 | 97.8 |
| 2022-11 | 85.52 | 77.98 | 100.28 | 81.23 | 88.71 |
| 2022-10 | 95.32 | 77.09 | 105.65 | 85.96 | 88.45 |
| 2022-09 | 95.72 | 84.02 | 107.11 | 80.64 | 91.85 |
| 2022-08 | 93.84 | 87.49 | 102.94 | 91.2 | 93.04 |
| 2022-07 | 94.85 | 93.98 | 101.56 | 86.94 | 96.24 |
| 2022-06 | 98.21 | 94.35 | 103.79 | 97.25 | 93.84 |
| 2022-05 | 98.79 | 92.99 | 102.48 | 93.24 | 97.81 |
| 2022-04 | 97.64 | 92.7 | 101.18 | 96.64 | 94.74 |
| 2022-03 | 101.58 | 98.22 | 103.63 | 93.62 | 98.16 |
| 2022-02 | 101.03 | 94.27 | 103.83 | 101.05 | 93.21 |
| 2022-01 | 102.78 | 101.47 | 104.64 | 100.76 | 97.16 |
| 2021-12 | 105.35 | 103.68 | 106.11 | 100.84 | 96.83 |
| 2021-11 | 101.06 | 103.07 | 104.74 | 97.3 | 105.57 |
| 2021-10 | 98.66 | 100.98 | 101.43 | 99.88 | 101.5 |
| 2021-09 | 99.02 | 98.85 | 101.28 | 103.18 | 92.57 |
| 2021-08 | 103.13 | 97.56 | 100.39 | 100.34 | 101.62 |
| 2021-07 | 101.53 | 98.91 | 100.94 | 104.68 | 101.39 |
| 2021-06 | 99.19 | 99.92 | 99.39 | 99.84 | 102.56 |
| 2021-05 | 98.31 | 96.31 | 100.12 | 99.82 | 98.92 |
| 2021-04 | 100.4 | 100.39 | 98.45 | 105.53 | 99.89 |
| 2021-03 | 98.79 | 103.32 | 94.46 | 98.45 | 100.43 |
| 2021-02 | 96.99 | 98.03 | 96.52 | 95.59 | 98.58 |
| 2021-01 | 97.57 | 98.97 | 96.16 | 94.54 | 100.12 |
graphiqueMonthly industrial production index in five energy-intensive industries
- Source: INSEE.
The monthly evolution of the April 2024 manufacturing index has been revised upwards
Compared to the previous release, the evolution of the manufacturing index between March and April 2024 has been revised upwards by 0.1 points (after rounding) at +0.5% instead of +0.4%. The evolution of the index for the whole industry has been revised upwards by 0.1 points (after rounding) at +0.6% instead of +0.5%.
tableauRevision of variations
| April 2024 / March 2024 | March 2024 / Feb. 2024 | Feb. 2024 / Jan. 2023 | Q1 2024 / Q4 2023 | 2023 / 2022 | |
|---|---|---|---|---|---|
| Industry (BE) | 0.06 | 0.00 | 0.06 | -0.03 | 0.09 |
| raw serie | 0.14 | -0.01 | 0.04 | 0.07 | 0.08 |
| SA-WDA parameters | -0.08 | 0.01 | 0.02 | -0.10 | 0.01 |
| Manufacturing (CZ) | 0.05 | 0.02 | 0.07 | -0.04 | 0.10 |
| raw serie | 0.19 | 0.03 | 0.03 | 0.07 | 0.09 |
| SA-WDA parameters | -0.14 | -0.01 | 0.04 | -0.11 | 0.01 |
- How to read it: in the manufacturing sector, the SA-WDA variation between March and April 2024 is revised by 0.05 points, 0.19 points are due to the revision of the raw series and -0.14 points to the updating of the SA-WDA parameters.
- Sources: INSEE, SSP, SDES.
For more information
The methodology of the industrial production index is explained in “Industrial Production Index with Base Year 2015”, Insee Méthodes no 133 – July 2019 (link at the bottom of this page).
Next issue: 2 August 2024 at 08:45 am.
Pour en savoir plus
Time series: Industrial production index – Base 2021
Insee Méthodes n° 133 – july 2019 "Industrial Production Index with Base Year 2015"