Industrial Production Index in France

Measures the monthly change in the volume of French industrial output (manufacturing, mining and energy), excluding construction. It covers most of the country's industry.

INSEE compiles it as a fixed-weight Laspeyres volume index with a base year, from sectoral statistical sources. Some series are estimated in the first release and completed later.

It is a hard-activity gauge of the industrial cycle that feeds into GDP. Meaningful surprises can move the euro, though its market impact is smaller than that of inflation or employment.

It is published with about a two-month lag, is volatile and is revised as series are completed, so the first estimate can change.