Informations Rapides · 31 May 2022 · n° 144

In March 2022, manufacturing turnover went up sharply (+2.8%) Turnover in industry and construction - March 2022

In March 2022, mainly due to significant price rises, turnover went up sharply in the manufacturing industry (+2.8% after +0.6% in February); it increased even more in industry as a whole (+3.9% after +1.0% in February).

Export turnover rebounded in March (+3.2% after –3.5% in February).

In March, turnover increased in almost all sectors, with very substantial increases in the sectors most affected by price rises. Turnover went up sharply in mining and quarrying; energy; water supply; waste management (+7.3% after +2.3% in February), particularly in electricity, gas, steam and air conditioning supply, due to significant price rises. Turnover also rose in “other manufacturing” (+2.9% after +1.8% in February). It rebounded in the manufacture of transport equipment (+5.4% after –6.4% in February) and advanced very sharply in the manufacture of coke and refined petroleum products (+12.7% after +1.8%). Turnover also went up in the manufacture of food products and beverages (+0.9% after +1.9%). Conversely, turnover fell back strongly in the manufacture of machinery and equipment goods (–1.7% after +1.9% in February). In this sector, the decrease was strong especially in the manufacture of machinery and equipment n.e.c. (–4.2%) while the manufacture of electrical equipment was still on increase (+2.2%).

Mainly as a result of the soaring producer prices, the turnover of the first quarter of the year grew sharply compared to the same quarter of the previous year, in the manufacturing industry (+14.5%), and also in industry as a whole (+22.8%). The increase was observed in all major sectors. The growth over a year was particularly pronounced in mining and quarrying; energy; water supply; waste management (+57.6%), in “other manufacturing” (+16.0%) and in the manufacture of coke and refined petroleum products (+73.1%). The increase was also pronounced in the manufacture of food products and beverages (+9.5%), in the manufacture of transport equipment (+8.8%) and in the manufacture of machinery and equipment goods (+6.5%).

The fastest growing subsectors were electricity, gas, steam and air conditioning supply (+73.2%) and the manufacture of other transport equipment (22.7%); only the manufacture of motor vehicles, trailers and semi-trailers went down (–5.3%).

The percentage change of the turnover index in February 2022 in the manufacturing industry was revised upwards at 0.6% instead of 0.3% in the previous publication; it was revised upwards at +1.0% instead of +0.7% for industry as a whole. The variation of the raw serie was due in particular to the integration of late or rectified VAT declarations.