FX.co ★ France Industrial Output Falls Further

Industrial production in France declined by 0.5% month-on-month in September 2026, after a 0.4% fall in August, defying expectations of a 0.3% rebound. The overall decrease was chiefly driven by a 3.8% contraction in extractive industries, energy and water, following a 2.8% drop in August, largely due to weaker electricity output.

By contrast, manufacturing output increased by 0.5%, gaining momentum after a 0.3% rise in the previous month. Within manufacturing, transport equipment production rebounded by 2.7%, supported by a strong 7.5% increase in automobile output. Production of electrical, electronic and computer equipment grew by 2.6%, agri-food output rose by 1.0%, and coking and refining activity advanced by 6.0%. However, output of other industrial products slipped by 0.7%.

On an annual basis, overall industrial activity fell by 1.3%, the sharpest drop since April 2025, reversing a 0.2% increase recorded in August. For the third quarter as a whole, industrial output was down 0.6% compared with the same period a year earlier.