Informations Rapides ·
5 March 2024 · n° 59
In January 2024, manufacturing output decreased (‑1.6%) Industrial production index - January 2024
In January 2024, output decreased over a month in the manufacturing industry (‑1.6% after +0.5% in December 2023) and the whole industry (‑1.1% after +0.4%).
In accordance with the European Business Statistics Regulation (EBS Regulation) and its Implementing Regulation, the Industrial Production Index (IPI) and the Index of Production in Construction in volume (IPVC) are now disseminated with reference 100 in 2021.
Furthermore, the weights of these two indices are updated annually, and the indices are chain-linked. The weights taken into account for the period from January 2021 are thus based on value added data for 2021 taken from the national accounts. Taking these new weights into account leads to revisions of the indices over the same period.
In addition, the sample of products whose production is monitored for the purposes of calculating the industrial production index is reviewed by 1/7ths every year. The entire sample is thus renewed or extended over a seven-year cycle. The aim of this operation is to ensure that the indices are robust and to adapt them to economic or technical developments, in particular by tracking products that have recently appeared on the market and removing from the sample those whose production has become very low. The series for which the sample was reviewed this year have been recalculated on the new product perimeter over the last three years, 2021 to 2023, which represents an additional source of revision for the corresponding series. Before that date, the profile of the indices is broadly unchanged.
Finally, the seasonal and working-day adjustment models (SA-WDA) have also been updated over the recent past, in order to improve the quality of the index.
Further information on these changes is available in the Documentation tab of the web version of this publication.
- Over a month, output fell back notably in the “other manufacturing” industries
- Over a year, manufacturing output was up by 0.3%
- Output in some energy-intensive industries remained low compared to the level of 2021
- The monthly evolution of the December 2023 manufacturing index has been revised downwards
- For more information
In January 2024, output decreased over a month in the manufacturing industry (‑1.6% after +0.5% in December 2023) and the whole industry (‑1.1% after +0.4%).
tableauMonthly Industrial Production Indices
| (C1) | (C3) | (C4) | (C5) | CZ | |
|---|---|---|---|---|---|
| 2024-01 | 98.22 | 100.54 | 115.3 | 99.64 | 101.59 |
| 2023-12 | 96.76 | 100.8 | 121.7 | 101.19 | 103.21 |
| 2023-11 | 95.39 | 104.94 | 119.82 | 99.91 | 102.7 |
| 2023-10 | 96.69 | 103.49 | 118.47 | 99.69 | 102.53 |
| 2023-09 | 96.01 | 104.01 | 115.61 | 99.86 | 102.35 |
| 2023-08 | 97.53 | 103.74 | 119.73 | 98.86 | 102.37 |
| 2023-07 | 98.49 | 104.57 | 113.47 | 99.34 | 102.21 |
| 2023-06 | 98.7 | 105.3 | 118.24 | 98.33 | 102.4 |
| 2023-05 | 98.94 | 106.37 | 120.13 | 99.37 | 103.36 |
| 2023-04 | 98.08 | 104.82 | 117.17 | 99.06 | 101.66 |
| 2023-03 | 98.62 | 103.65 | 115.9 | 99.18 | 101.16 |
| 2023-02 | 98.61 | 104.54 | 117.06 | 99.27 | 102.72 |
| 2023-01 | 97.77 | 104.78 | 109.84 | 98.81 | 101.51 |
| 2022-12 | 97.93 | 101.39 | 116.12 | 100.09 | 102.36 |
| 2022-11 | 100.57 | 104.78 | 106.79 | 101.45 | 102.81 |
| 2022-10 | 99.64 | 99.93 | 108.13 | 99.56 | 99.93 |
| 2022-09 | 99.63 | 105.71 | 109.5 | 101.31 | 102.92 |
| 2022-08 | 100.36 | 102.71 | 112.09 | 101.84 | 103.45 |
| 2022-07 | 99.8 | 98.19 | 105.69 | 99.43 | 100.56 |
| 2022-06 | 100.26 | 101.78 | 106.87 | 101.16 | 102.16 |
| 2022-05 | 98.64 | 99.38 | 101.13 | 101.25 | 101.04 |
| 2022-04 | 99.68 | 98.31 | 99.85 | 100.16 | 100.21 |
| 2022-03 | 101.3 | 99.38 | 95.99 | 101.8 | 101.15 |
| 2022-02 | 101.48 | 100.87 | 100.15 | 100.91 | 101.18 |
| 2022-01 | 101.99 | 99.69 | 102.32 | 102.9 | 102.48 |
| 2021-12 | 101.25 | 101.61 | 101.43 | 98.62 | 100.02 |
| 2021-11 | 102.16 | 98.24 | 94.51 | 99.47 | 99.46 |
| 2021-10 | 100.9 | 100.66 | 105.24 | 100.57 | 101.25 |
| 2021-09 | 99.26 | 101.02 | 89.89 | 99.67 | 98.8 |
| 2021-08 | 99.8 | 99.45 | 99.56 | 100.74 | 100.39 |
| 2021-07 | 100.57 | 98.44 | 103.81 | 99.97 | 100.36 |
| 2021-06 | 100.59 | 100.1 | 95.68 | 99.94 | 99.74 |
| 2021-05 | 99.19 | 98.7 | 97.16 | 99.44 | 98.97 |
| 2021-04 | 98.57 | 100.73 | 99.27 | 100.22 | 99.78 |
| 2021-03 | 100.14 | 100.29 | 101.02 | 100.05 | 100.12 |
| 2021-02 | 97.73 | 98.8 | 100.04 | 98.93 | 98.55 |
| 2021-01 | 99.82 | 101.96 | 112.39 | 102.39 | 102.56 |
- 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 notably in the “other manufacturing” industries
In January 2024, production fell back in the “other manufacturing industries” (‑1.5% after +1.3%), as well as in the manufacture of transport equipment (‑5.3% after +1.6%): it fell back in the “other transport equipment” (‑4.8% after +3.8%) and decreased again in the manufacture of motor vehicles, trailers and semi-trailer (‑6.0% after ‑1.8%). It went down sharply in the manufacture of coke and refined petroleum products (‑10.5% after ‑1.8%) and declined slightly in the manufacture of machinery and equipment goods (‑0.3% after ‑3.9%). On the contrary, output rebounded in mining and quarrying, energy, water supply (+1.6% after ‑0.3%) and increased again in the manufacture of food products and beverages (+1.5% after +1.4%).
tableauVariation in the Industrial Production
| NA : A10, (A17), [A38 or A64] | Jan. 2024 | Jan. 2024 / Dec. 2023 | Dec. 2023 / Nov. 2023 | Quarter-on-quarter change (3) | Year-on-year change (4) |
|---|---|---|---|---|---|
| BE: INDUSTRY | 100.0 | -1.1 | 0.4 | 0.0 | 0.8 |
| CZ: Manufacturing | 101.6 | -1.6 | 0.5 | 0.1 | 0.3 |
| (C1): Man. of food products and beverages | 98.2 | 1.5 | 1.4 | 0.0 | -2.0 |
| (C2): Man. of coke and refined petroleum products | 119.9 | -10.5 | -1.8 | -8.7 | -4.5 |
| (C3): Machinery and equipment goods | 100.5 | -0.3 | -3.9 | -1.6 | -1.5 |
| [CI] Man. of computer, electronic and optical products | 109.6 | 5.1 | -6.8 | -1.2 | 2.5 |
| [CJ] Man. of electrical equipment | 93.7 | -8.3 | 5.0 | -1.1 | -4.2 |
| [CK] Man. of machinery and equipment n.e.c. (1) | 94.7 | -1.6 | -5.4 | -2.3 | -4.4 |
| (C4): Man. of transport equipment | 115.3 | -5.3 | 1.6 | 0.9 | 7.2 |
| [CL1] Man. of motor vehicles, trailers and semi-trailers | 107.0 | -6.0 | -1.8 | -3.1 | -2.6 |
| [CL2] Man. of other transport equipment | 121.1 | -4.8 | 3.8 | 3.6 | 14.7 |
| (C5): Other manufacturing | 99.6 | -1.5 | 1.3 | 0.8 | 0.1 |
| [CB] Man. of textiles, wearing apparel, leather and related products | 120.5 | 3.1 | -5.2 | 2.6 | 4.7 |
| [CC] Man. of wood and paper products; printing and reproduction of recorded media | 90.2 | -0.2 | 1.4 | -1.3 | -5.9 |
| [CE] Man. of chemicals and chemical products | 93.0 | -3.1 | -1.3 | -1.0 | 4.7 |
| [CF] Man. of basic pharmaceutical products and pharmaceutical preparations | 116.2 | 4.8 | 0.9 | 8.4 | 3.4 |
| [CG] Man. of rubber and plastics products, and other nonmetallic mineral products | 86.7 | -6.7 | 4.9 | -2.0 | -6.9 |
| [CH] Man. of basic metals and fabricated metal products, except machinery and equipment | 96.2 | -2.6 | 1.8 | 0.5 | -0.3 |
| [CM] Other manufacturing; repair and installation of machinery and equipment | 108.1 | -1.0 | 2.7 | 0.8 | 0.6 |
| DE: Mining and quarrying; energy; water supply; waste management | 92.5 | 1.6 | -0.3 | -0.2 | 4.0 |
| [BZ] Mining and quarrying | 75.3 | -15.3 | 8.8 | -8.0 | -9.4 |
| [DZ] Electricity, gas, steam and air-conditioning supply | 93.4 | 2.7 | -0.8 | 0.0 | 5.5 |
| [EZ] Water supply; sewerage, waste management and remediation | 90.8 | -3.2 | 1.8 | 0.4 | -4.6 |
| FZ: CONSTRUCTION | 101.6 | 0.3 | 1.8 | 0.2 | -1.3 |
| MIGs (2) | |||||
| Capital goods | 107.1 | -1.8 | -0.2 | 0.8 | 3.0 |
| Intermediate goods | 91.9 | -3.5 | 1.4 | -1.3 | -2.3 |
| Consumer durables | 104.6 | -2.8 | 5.6 | -7.1 | -2.9 |
| Consumer non-durables | 104.8 | 1.6 | 0.4 | 2.1 | 0.2 |
| Energy | 95.4 | 0.7 | -0.7 | -1.0 | 3.4 |
- (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 was up by 0.3%
Output over the last three months (November 2023 to January 2024) was higher than that of the same months of the previous year in the manufacturing industry (+0.3%) and in the whole industry (+0.8%).
Over this one-year period, output went up significantly in the manufacture of transport equipment (+7.2%) and in mining and quarrying, energy, water supply (+4.0%). It was almost stable in the “other manufacturing industries” (+0.1%). On the contrary, it decreased in the manufacture of food products and beverages (‑2.0%), in the manufacture of machinery and equipment goods (‑1.5%) and in the manufacture of coke and refined petroleum products (‑4.5%).
Output in some energy-intensive industries remained low compared to the level of 2021
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 –or persistently high– production costs, which may affect their output. Output over the last three months (November 2023 to January 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 pulp, paper and paperboard (‑16.4%), the manufacture of basic iron and steel and of ferro-alloys (‑18.9%), the manufacture of glass and glass products (‑15.7%) and the manufacture of basic chemicals (‑12.7%).
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) | |
|---|---|---|---|---|---|
| 2024-01 | 84.17 | 83.37 | 84.49 | 77.95 | 96.53 |
| 2023-12 | 81.74 | 85.38 | 82.44 | 84.18 | 101.89 |
| 2023-11 | 83.54 | 90.12 | 84.53 | 85.18 | 94.2 |
| 2023-10 | 83.79 | 92.04 | 83.94 | 74.76 | 93.39 |
| 2023-09 | 85.44 | 88.85 | 88.59 | 85.05 | 91.02 |
| 2023-08 | 84.7 | 83.53 | 89.11 | 83.13 | 92.27 |
| 2023-07 | 83.63 | 84.67 | 91.74 | 58.5 | 90.42 |
| 2023-06 | 74.05 | 84.07 | 92.49 | 48.55 | 93.4 |
| 2023-05 | 78.25 | 87.15 | 96.79 | 58.94 | 92.33 |
| 2023-04 | 79.42 | 83.91 | 95.19 | 80.82 | 91.48 |
| 2023-03 | 75.41 | 80.67 | 95.24 | 84.19 | 91.12 |
| 2023-02 | 79.76 | 84.28 | 96.23 | 59.82 | 91.45 |
| 2023-01 | 79.6 | 79.12 | 96.95 | 83.08 | 86.28 |
| 2022-12 | 82.14 | 78.83 | 99.79 | 79.53 | 97.61 |
| 2022-11 | 84.82 | 78.01 | 99.92 | 81.45 | 88.69 |
| 2022-10 | 94.86 | 77.29 | 105.28 | 85.93 | 88.49 |
| 2022-09 | 95.77 | 84.12 | 107.45 | 80.68 | 91.79 |
| 2022-08 | 93.65 | 87.41 | 101.98 | 91.29 | 93.17 |
| 2022-07 | 94.3 | 93.77 | 101.35 | 87.06 | 96.16 |
| 2022-06 | 98.26 | 94.47 | 103.73 | 97.46 | 93.6 |
| 2022-05 | 99.63 | 92.73 | 101.71 | 94.1 | 97.56 |
| 2022-04 | 97.57 | 92.8 | 102.59 | 95.59 | 95.46 |
| 2022-03 | 101.86 | 97.88 | 104.71 | 93.57 | 98.59 |
| 2022-02 | 101.73 | 95.33 | 103.9 | 100.42 | 93.25 |
| 2022-01 | 102.78 | 101.53 | 104.46 | 100.85 | 96.65 |
| 2021-12 | 105.38 | 102.89 | 106.3 | 100.78 | 96.76 |
| 2021-11 | 100.25 | 103.04 | 104.49 | 97.77 | 105.58 |
| 2021-10 | 98.2 | 101.16 | 101.18 | 100.18 | 101.53 |
| 2021-09 | 99.08 | 99.02 | 101.6 | 103.06 | 92.56 |
| 2021-08 | 103.22 | 97.45 | 99.58 | 100.13 | 101.77 |
| 2021-07 | 101.65 | 98.7 | 100.68 | 104.77 | 101.12 |
| 2021-06 | 99.11 | 100.0 | 99.54 | 99.68 | 102.48 |
| 2021-05 | 98.83 | 96.21 | 99.61 | 100.39 | 98.82 |
| 2021-04 | 100.5 | 100.44 | 99.25 | 104.98 | 100.19 |
| 2021-03 | 98.9 | 103.1 | 95.18 | 98.08 | 100.8 |
| 2021-02 | 97.27 | 98.99 | 96.48 | 95.27 | 98.48 |
| 2021-01 | 97.6 | 99.01 | 96.1 | 94.91 | 99.9 |
graphiqueMonthly industrial production index in five energy-intensive industries
- Source: INSEE.
The monthly evolution of the December 2023 manufacturing index has been revised downwards
Compared to the previous release, the evolution of the manufacturing index between November and December 2023 has been revised downwards by 0.7 points (after rounding) at +0.5% instead of +1.2%, half due to revised raw data (‑0.37 points) and for the other half due to the updating of the SA-WDA models (‑0.35 points). The evolution of the index for the whole industry has also been revised downwards by 0.7 points (after rounding) at +0.4% instead of +1.1%.
tableauRevision of variations
| Dec. 2023 / Nov. 2023 | Nov. 2023 / Oct. 2023 | Oct. 2023 / Sept. 2023 | Q4 2023 / Q3 2023 | 2023 / 2022 | |
|---|---|---|---|---|---|
| Industry (BE) | -0.70 | 0.13 | -0.08 | 0.16 | -0.24 |
| raw serie | -0.19 | 0.28 | 0.10 | -0.48 | -0.19 |
| SA-WDA parameters | -0.51 | -0.15 | -0.18 | 0.64 | -0.05 |
| Manufacturing (CZ) | -0.72 | -0.04 | 0.21 | 0.44 | 0.03 |
| raw serie | -0.37 | 0.22 | 0.16 | -0.50 | 0.06 |
| SA-WDA parameters | -0.35 | -0.26 | 0.05 | 0.94 | -0.03 |
- How to read it: in the manufacturing sector, the SA-WDA variation between November and December 2023 is revised by -0.72 points, -0.37 points are due to the revision of the raw series and -0.35 points to the updating of the SA-WDA parameters. The revision of raw data includes notably the update of the weights and the product sample.
- 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: 5 April 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"