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 EN FRANCAIS

KEY INDICATORS Q3 2005 : Industrial output index, stock levels, industrial confidence levels, industrial,local & international order books, turn over indices, the labor market, job offers, company creations, consumer prices index - metropole- ,international imported raw materials, car registrations, external trade    

INDUSTRIAL OUTPUT INDEX - Q3 2005                                                                         

The Industrial output regained momentum in Q3  but only rose +0.5% as industrial production dipped to a record low in July impacting the index quarterly performance. Nevertheless, the CONSUMER GOODS sector +1.6% gain salvaged the index while CAPITAL GOODS milder +0.6% INTERMEDIATE GOODS +0.3% CONSTRUCTION +0.8% upsurge and the FOOD & AGRICULTURE INDUSTRY +0.6% rebound contributed as well to uplifting the index. Inversely, the AUTOMOBILE production remained nil and ENERGY output declined -0.2%

Out of the consumer goods group, the pharmaceutical-perfumes-personal care products output jumped +3.6% and soaps-personal care products +3.3% inversely to home equipment declining -0.6% unlike the previous quarter. Book printing and reprints output fell -0.3% while the leather and clothing output declined the strongest -1.2% due to the leather-travel goods-shoes component collapsing -4.3% unlike furs and clothing climbing +1.5%

The automobile industry output impressive declines in July -0.3% and August -1.3% followed by September +4.2% strong rebound flattened out production from a quarterly variance perspective. As a result, the automobile equipment quarterly output fell -1.1% as early as July when production dipped -1.2% but grew the following months respectively +1.3% and +0.8%

Capital goods mild output quarterly gain saw the electric and electronic equipment category perform best +0.9% due to the sound and picture transmission equipment item +6.9% increase and orthopedic-surgery equipment +1.2% surge. Mechanical equipment saw production rise +0.5% and the boat-train-planes-motorcycle category, usually capital goods best performer, remained stable climbing a slight +0.1%

Out of intermediate goods, only two categories recorded significant production growth: the textile sector surged a strong +1.8% along with paper-wood-cardboard goods +1.5% due to woodwork products +4.8% output increase. Electronic components saw production only rise +0.6% despite capital goods electric and electronic equipment strong performance while the metal and metallic products output stayed quasi stable gaining +0.2% due to the automobile sector’s weak output. Similarly, the chemical-plastic-rubber category stayed stable rising +0.1% The mineral products output fell -0.3% With most industrial sectors operating at slow capacity, the energy output consequently declined with the exception of the combustibles and fuels production increasing +1.4% while the water-gas-electricity output fell -0.5% The construction output gained +0.8% similarly to the building category while the civil engineering production rose +1.1%

In one year to September, and as a direct result of a sluggish economic environment , the overall industry output index fell -0.3% impacted downwards by major industries : the automobile industry recorded -1.7% production drop intermediate goods -1.6% and energy -1.1.% The consumer goods output remained on the upward trend and gained +2.1% along with capital goods +1.5% rise although to a lesser extent followed by construction +1.4% The food and agriculture industry output rose a mild +0.4% 

Out of the consumer goods sector, although the leather and clothing output collapsed -15.2% inversely, the watch making-photo and optical production jumped +10% followed closely by pharmaceuticals-personal care and perfumes +7.3% surge. Book printing and reprints fell -0.8% and the home equipment production remained stable declining a mild -0.1%  Capital goods boats-trains-planes-motorcycles products saw output increase an impressive +11.2% but by contrast, the electric-electronic equipment production fell -3.7% although the mechanical equipment output grew +1.1% Intermediate goods negative performance resulted from that index components dipping for the most part in direct relation with the automobile sector : metal-metallic products fell -3.6% and mineral products -1.5% electronic components -0.7% chemicals-plastic-rubber -0.6% In addition, the index was dragged down by the textile output falling -11.1% The only positive output figure came from the paper-wood-cardboard goods output index increasing +3.1% The combustibles and fuels output out of the energy group reflected the overall industrial slowdown and declined -3.1% and to a lesser extent water-gas-electricity -0.7% 

Stock levels remained fairly high in Q3 and only declined -0.8% overall (to 106.8 from 107.7)

Best performers included the food and agriculture industry sector -5.5% (to 96 from 101.6) consumer goods -4% (118.6 from 123.5) and intermediate goods -4.4% (104.4 from 109.2) Capital goods stock levels by contrast rose +3.4% (to 104.2 from 100.8) as two items recorded stock level increases: the trains-planes-motorcycles goods stocks climbed +5.4% (to 119.3 from 113.2) and electric-electronic equipment +3% (to 84.5 from 82.1) The automobile industry stock levels remained stable at 163.1 from 163.8 while energy stock levels excluding water jumped +9.3%

Compared with Q3 of last year, the overall industry stock level index fell -1.7% and sectors performed inversely to their current quarterly trend. The automobile industry stock levels fell -3.1% consumer goods' increased +1.2% but capital goods' dipped -5.4% as all items recorded substantial stock level drops: the mechanical equipment stock levels decreased -11.1% electric-electronic equipment -6.8% and planes-trains-motorcycles -2.1% Intermediate goods stock levels grew +0.9% with the metal transformation stock level climbing +7.7% while inversely the electric and electronic components stock level fell -4.7% and plastic-rubber -1.9% The food and agriculture industry along with the energy sector stock levels declined respectively -3.1% and -8.8%

The Industrial Quarterly Confidence Index picked up in Q3 as overall past orders surged against the previous quarter sending expectations to rise. Foreign order books did not mirror this upward trend however and past orders fell inversely to overall orders. Nevertheless, expectations rose.

Overall order books : Intermediate goods past orders remained in the red although improving to -2 from the previous quarter's alarming -21 as the automobile sector, faced with fierce competition, recorded a general slow down impacting negatively the overall sector. Consumer goods positive past order books increased +12 from +8 as this category benefited from a strong and sustained local demand bringing expected orders to rise to 17 from 2 Intermediate goods expectations only rose to -4 from -5

Both Capital goods and the automobile industry past orders declined against the previous quarter respectively to 17 from 20 and to an impressive -14 from -2 but expectations still rose: capital goods expectations rose to 9 from 8 and the automobile sector's to -4 from -5

Foreign order books : capital goods and consumer goods foreign past order books increased against the previous quarter respectively to 24 from 22 and to 18 from 8 Yet expectations only rose 1 point as regards consumer goods while capital goods expectations fell to 19 from 22 and, despite Airbus massive deliveries up +21% totaling 271 planes from January thru October in one year. 

The automobile industry past foreign order books collapsed -17 from 43 but intermediate goods remained at a stable yet negative -13 That sector's expectations rose to -4 from -8 and the automobile sector’s rose -19 from -31

Other European Union members' order books reflected a more dynamic environment both within and outside the Euro area unlike the French new orders index falling -3% to 107.9 from 111.2 against the previous quarter. Germany performed best with a new orders index climbing +5.1% to 115.2 from 109.6 Portugal’s dipped -0.6% to 118.5 from 119.2 while the Czech Republic's order books index only rose +0.1% to 225.1 from 224.9 The Euro area's order books index increased +1.1% to 109.8 from 108.6

France's quarterly order books index stood 1.8% below the Euro area's index and 6.75% lower than Germany’s . Portugal’s order books stood 9.8% higher than France‘s. The Czech Republic, a non Euro area country but EU member since May 2004 recorded a quarterly order books index 108.6% higher than France‘s. Nevertheless, monthly minimal wages in the Czech Republic averaging Euro199 accounted for this massive order index gap compared with France’s minimal monthly wage averaging Euro1067 net.

French goods manufactured in France and sold on external markets remained above local prices due for the most part to a series of taxes not applicable to exports.

The French Consumer Goods price index average stood at 101 and edged closer to external prices at 95.6 although 5.5% higher, but nearly matched the all markets quarterly price index average of 100.5 

The French Capital Goods quarterly price index average stood at 101.9 and recorded an impressive 20.5% spread with the external markets price index at 84.6 and stood 8.1% higher than the all markets price index at 94.3

The French Automobile Industry quarterly price index average at 104.8 recorded the lowest price index spread with external markets 104.6 or 0.2% higher as well as the all markets price index at 104.7 August saw the external markets price index increase +1.2% along with the all markets price index slighter 0.6% gain but both indices fell back to lower prices in September or 0.2% lower than French prices.

The overall industrial turnover index, excluding construction, increased +1.5% in Q3  (+1% excluding energy and the food and agriculture industry). The overall export turnover index rose +2% compared with the local turnover index modest +0.6% gain. Sectors that performed best on both markets included consumer goods, capital and intermediate goods while the automobile industry recorded a noticeable local turnover decline. 

The CONSUMER GOODS export turnover index increased +2.2% to 111.3 from 108.9 and outperformed the local turnover index +0.9% mild increase to 112 from 111 Out of that sector the leather and clothing local turnover grew +0.2% to 95.7 from 95.5 but the export turnover index fell -0.9 to 99.8 from 100.7  The pharmaceutical-body care products local turnover index increased +1.8% to 135.7 from 133.3 and saw the export turnover index jump +4.2% to 129.2 from 124 Thz book printing and reprint indices recorded negligible turnovers respectively +0.2% (local and to 98.5 from 98.3) and -0.3% (export and to 94.9 from 95.2)

The CAPITAL GOODS local turnover index increased +2.7% to 105.3 from 102.5 slightly above its export turnover performance +2.5% to 105.5 from 102.9 The shipbuilding-airspace and rolling railway equipment turnover index performed best with the local turnover index growing an impressive +9.1% to 101.1 from 92.7 following a dip to negative figures in Q2 (-4%) The export turnover index increased +3.3% to 126.2 from 122.2 (and inversely to local turnover in Q2 jumped +18.2% ) The mechanical equipment turnover indices -domestic and foreign- grew each +2% and the electronic equipment index stayed mild despite the shipbuilding  category performance : the local turnover index remained stable at 107.5 while the export turnover index increased +2.4% to 73.2 from 71.5

The INTERMEDIATE GOODS turnover indices grew substantially climbing respectively +2.7% (local to 105.3 from 102.5) and +2.5% (export to 105.5 from 102.9) although the local textile turnover index declined an impressive -1.9% to 78.4 from 79.9 while the export turnover index prevented that sector from dipping further and climbed +1.2% to 83.3 from 82.3 

In one year, consumer goods, intermediate and capital goods remained best performers in addition to the food and agriculture industry, while the automobile industry dipped. The CONSUMER GOODS turnover index increased +2.4% to 112.2 from 109.6 with the export turnover index climbing +3% to 113.4 from 110.2 and the local turnover index +2.3% to 111.9 from 109.4 The perfume-personal care turnover index surged +6.1% to134.8 from 127 nearly similarly to the local turnover index +6.5% to 135.7 from 127.4 The export turnover index fell -1.1% to 95 from 96.1 The book printing and reprints turnover indices performed negatively declining overall -0.2% to 98.2 from 98.4 The local turnover index dipped -0.1% to 98.4 from 98.5 and the export turnover index did not fare better declining -0.6% to 95.5 from 96.1 Inversely, the leather and clothing turnover index grew a mild +0.5% to 96.8 from 96.3 with the export turnover increasing an impressive +3.5% to 100.1 from 96.7 while the local turnover index fell -0.4% to 95.7 from 96.1 

The FOOD & AGRICULTURE INDUSTRY turnover index increased +2.4% to 111.5 from 108.9 with the local turnover index up +2.6% to 110.5 from 107.7 while the export turnover index climbed a milder +1.4% to 118.4 from 116.8

The CAPITAL GOODS turnover index recorded impressive figures climbing overall +6.2% to 105.9 from 99.7 with the export turnover index jumping +12.4% to 107.2 from 95.4 and the local turnover index +3% to 105.2 from 102.1 The mechanical equipment turnover index surged +5.4% to 113 from 107.2 with the export turnover index increasing +10.1% to 131 from 119 and the local turnover index +3.3% to 105.9 from 102.5 The electronic equipment turnover index climbed +7.3% to 95.7 from 89.2 with the export turnover index growing +11.5% to 78.8 from 70.7and the local turnover index +5.3% to 106.9 from 101.5 The INTERMEDIATE GOODS turnover index increased +1.4% to 99.5 from 98.1 with the local turnover index climbing +2.2% to 101.1 from 98.9 and, inversely, the export turnover index shed -0.5% to 95.8 from 96.3 The textile turnover index collapsed -8.6% to 78.5 from 85.9 with the local turnover index falling -10% to 76.8 from 85.2 and the export turnover index -5.7% to 82.5 from 87.5 The electronic components turnover index grew +5.4% to 89.1 from 84.5 despite the export turnover index falling -11.4% to 70 from 79 while the local turnover index increased an impressive +16.2% to 102.7 from 88.4

The AUTOMOBILE INDUSTRY turnover index fell to negative figures declining -3.4% to 107.2 from 111 with the local turnover index falling -3.8% to 105.1 from 109.2 and the export turnover index -2.8% to 113.1 from 116.3

THE LABOR MARKET - METROPOLE - Q3 2005                                                                   

Overall unemployment fell -1.9% to a total 2 696 000 jobless in Q3 or 9.9% All age groups recorded substantial unemployment decline. For the under 25 unemployment fell -2.1% similalry to the intermediate age bracket The 50+ age group jobless rate declined -1% 

Nevertheless, unemployment figures triggered controversies as the number of jobless stricken out from statistical records averaged 59 000 a month while similarly the number of food stamps beneficiaries increased. Unemployment registration criteria remained in the red and revealed an atone labor market as registrations due to the end of short term employment jumped +59.2% and +30.5% due to the end of temporary assignments. In addition, the number of jobless stricken out of statistical records under a back to training program increased +14% to 27 400 from 24 000 while inversely, the number of unemployed back to work fell -1.3% to 89 100 from 90 300 Registrations due to lay-off declined -9.8% but included buy-out plans. 

Per gender, male unemployment fell -2% to a total 1 318 000 unemployed compared with female unemployment declining -1.8% to 1 378 000 jobless. Both genders recorded among the 25 to 49 age bracket the stronger unemployment rate drop respectively -2.1% (males) to 778 000 and -2% (females) to 878 000 The under 25 jobless rate dipped a strong -2.9% (males) to 312 000 and young females similarly to 282 000 or -1.5% The 50+ age group male unemployment rate fell -1.3% (males) to 226 000 and -1.9% (females) to 218 000 although a large majority of that age group remains unaccounted for in statistical records due to an age exemption for a job search.

Job offers increased overall +3.4% in Q3 to 278 000 positions but long term offers collapsed -9.5% to 123 000 and three times as much as short term offers declining -3% to 113 1000 despite the summer recess when temporary assignments usually increase. Short term offers in numbers nearly matched temporary assignments leaving job seekers with little perspective as both sectors recorded negative figures. Occasional job offers grew +1.6% to 48 400

In one year, overall unemployment declined -2.4% to 2 673 000 and the under 25 jobless rate fell -3.3% to 594 000 The 25 to 49 rate fell -1.7% to 1 640 000 million and the 50+ unemployment rate decreased the fastest -3.7% to 440 000

Per gender, male unemployment fell -2.2% to 1 305 000 not as fast as female’s declining -2.6% to 1 369 000 although higher in numbers. The young males jobless rate decreased -4.6% to 313 000 and young females' -1.4% to 282 000 The 25 to 49 male age group jobless rate decreased -1% to 769 000 compared with females' -2.4% to 871 000 Similarly, the 50+ male unemployment rate fell -2.6% to 224 000 while females’ declined -4.8% to 216 000 

Source: Insee 

Job offers improved significantly and increased +12.6% to 285 400 but remained dwarfed by overall unemployment figures expressed in millions. Long term job offers grew +24.5% to 153 700 compared with short term offers climbing +6.1% to 120 400 Occasional job offers declined a strong -4.1% to 45 000 Out of unemployment registration criteria, registrations due to lay-offs declined -25% and registrations due to back to training programs fell -12.7% The number of jobless back to work increased +7.8% and registrations due to the end of temporary assignment dipped -5.2% and dropped -4% as regards the end of short term employment. 

Overall company creations increased +4.4% in Q3 with new companies growing +4.8% to 19 178 enterprises in an impressive +10% surge in August followed by a milder +1.4% rise in September. Reactivations climbed +3.6% to 4322 re-openings and at a sustained rate +10.4% in August and +12.5% in September. Buy-backs increased +2.8% to 3393 but inversely to new companies declined -2.1% in August and rebounded +3.5% in September. Per sector, nine categories out of a total 11 recorded positive growth rates but the consumer goods group, construction and services to companies outperformed all others.

Source: Insee 

New companies out of the consumer goods sector increased +6.5% to 594 and benefited from a strong and sustained internal demand similarly to construction’s new ventures growing +8.9% to 4387 due to an everlasting housing shortage. The services to companies category saw new businesses climb +6.7% to 5496 rebounding from the May gap related to uncertainties brought about by the European Constitution Referendum results. Education-health-social services’ new businesses increased +4.1% to 1936 and steadily month on month. The services to individuals category saw new companies climb +2% to 4582 as government measures boosted that sector with tax incentives aimed at clients. Real estate's new companies increased +4.4% 1217 and benefited from a severe housing shortage despite prohibitive prices as regards both rental and property purchasing while transport's new businesses grew +3.7% to 620 and, despite crude oil prices averaging U$D/barrel 61.5 or +19.2% on the same period. The food and agriculture industry's new companies climbed +2.6% to 598 businesses.

By contrast, capital goods' and intermediate goods' new companies did not fare as well and declined respectively -5.5% to 223 and -1.9% to 309 impacted by soaring raw material prices and an atone industrial market, restraining thus potential subcontractors to engage in new ventures.

In one year, capital goods' and intermediate goods' new companies remained on a negative trend and fell respectively -13.2% to 250 from 288 and -4.8% to 340 from 357 The services to individuals new businesses declined -1.6% to 4895 from 4973 while both real estate and transport new ventures performed best jumping respectively + 14.5% to 1304 from 1139 and +12.7% to 667 from 592 The services to companies'  new enterprises rose +9.8% to 5881 from 5358 and commerce, known to hold the highest bankruptcy rates, grew a more modest +0.9% to 7301 from 7237

New companies in the construction sector increased +4% restrained by a chronic lack of manpower, consumer goods climbed a much tamer +1.3% as an already saturated market and fierce competition discouraged newcomers. Similarly, the food and agriculture industry's new companies remained quasi-stable and rose +0.2%

CONSUMER PRICES INDEX - METROPOLE - Q3 2005                                                              

The overall consumer prices index increased +0.3% in Q3 impacted by the energy price index jumping +5.7% in addition to services climbing +1% and out of which the rent-water-garbage removal index gained +0.7%

The food price index and manufactured products declined each -1.2% preventing thus the index to climb higher. The tobacco price index grew +0.3%

Out of the energy component, the oil products price index increased +8.4% to 159.4 from 147.1 and all related products prices soared to new high : crude oil prices per barrel jumped +19.2% to U$D 61.5 from U$D51.63 the previous quarter but soared +22.8% in Euro per barrel to E50.40 from E41.03 On the same period Rotterdam Heavy fuel gained +14.8% to USD/t255.67 from U$D/t 222.67 Rotterdam gas oil-domestic fuel prices jumped +17.7% to U$D/t573.67 from U$D/t487.33 and Rotterdam super fuel soared +25.69% to U$D/t637.67 from U$D/t507.33

Other items increases included the additional health care coverage price index +1.4% to 119.3 from 117.7 and the transport and communication price index +1.5% to 103.2 from 101.7

In one year, the overall consumer prices index increased +2.2% to 113.2 from 110.8 mirroring its quarterly trend as the energy price index jumped +15.3% to 138.1 from 119.8 with the oil products price index soaring +23.1% to 165.7 from 134.6

The services price index gained +2.7% to 115.4 from 112.4 and the rent-water-garbage removal price index grew +4% to 115.9 from 111.6 but, the garbage removal price index alone rose +6.8% to 120.1 from 112.5 The city gas price index rose +10% to 121.7 from 110.7 while the electricity price index remained stable at 96.2 The house cleaning services price index gained +5.5% to 128.4 from 121.7 The education services prices index increased +4.8% to 117.2 from 111.8 The tobacco price index grew +0.6% to 178 from 177

The food price index remained quasi stable and only climbed +0.2% to 113.1 from 112.9 as the fresh food product price index gained a slight +0.4% to 109.7 from 109.3 and other food products performed similarly to the food price index.  

The transport and communication price index gained +1.4% to 102.8 from 101.4 as the postal services price index increased +5.2% to 117.3 from 111.5 while the telephone equipment-fax machine price index shed a strong -19% to 38.7 from 47.8 The private car repair price index however gained +5.1 to 136.7 from 130.1

The overall imported raw materials prices index expressed in Euro increased +5% in Q3 impacted by the foodstuff index +3.3% rise and the industrial products substantial +15.6% gain. Out of the foodstuff index, sugar soared +19.2% due to the growing use of ethanol in lieu of conventional refined petroleum products. 

The cereals price index impressive +13.3% increase to 92.2 from 81.4 contributed to the index upwards trend along with oilseeds climbing +2.5% to 92.8 from 90.5 and tobacco +3.2% to 68 from 65.9 By contrast, the tropical foods price index declined -3.9% to 94.5 from 98.3 Out of industrial products the natural rubber price index soared +22.3% or 2.5 times faster than non ferrous metals' +9% gain. The leather price index grew +4.2% and the wood pulp price index shed -2.3%

In one year, the overall index gained +14.2% to 106.1 from 92.9 impacted by foodstuff +6.4% to 91.7 from 86.2 and out of which sugar soared +31.5% to 95.1 from 72.3 Trading prices recorded a similar inflationary trend as sugar prices increased +31.7% from cents/lb 7.9 to cents/10.4 The cereals price index grew +8.3% to 91 from 84 tropical foods rose +3.1% to 92 from 89.2 and oilseeds +3.2% to 91.4 from 88.6 The cereals price index climbed higher +8.3%to 91 from 84 and the tobacco price index declined a slight -0.3% to 67.7 from 67.9

Industrial products pushed up the index upwards as well with an impressive +17.4% gain to 114.1 from 97.2 as the rubber price index soared +33.2% to 172.8 from 129.7 and non ferrous metals +23.3% to 122.4 from 99.3 Two items prevented the index to climb higher: the leather price index fell -5.5% to 75 from 79.4 and wood pulp -6.3% to 65.9 from 70.3 All items mirrored their respective trading prices trends : rubber prices jumped +33.7% to cents/kg158.8 from cents/kg118.8 Leather trading prices declined -5.2% to US cents/lb 85 from US cents/lb 80.6 and wood pulp fell -5.9% to U$D/t 620.2 from U$D/t583.4

Out of non ferrous metals, copper and zinc trading prices recorded a new high soaring respectively +33.2% to U$D/t3857.7 from U$D/t2849.9 and +42.8% to 1392.8 from U$D/t975.2 By contrast, nickel trading prices only grew +7.2% to U$D/t14218 from U$D/t13264.5 far from a record U$D/t16908 in May. Aluminum increased +6.7% to U$D/t1838.7 from U$D/t1723.2 or -7.3% from its record U$D/t1983 in March.

In currency and in Q3 the overall imported raw materials price index underperformed and only increased +1.9% The foodstuff price index climbed +0.4% and industrial products +2.7% Out of foodstuff, the strongest imported raw materials price indices were recorded by cereals increasing +10% to 121.6 and sugar +15.7% Industrial products remained below the Euro index performance and rubber rose +18.7% and non ferrous metals +5.7% The wood pulp index fell -5.4% and leather climbed a mild +1%

The dollar +3.8% gain in Q3 against the Euro to U$D0.82 from U$D0.79 still left cost to rise in dollar terms (the overall imported raw materials price index expressed in currency stood 31.4% higher than the Euro index) as a strong Euro remained above E1.19 and neared E1.23 Similarly, the currency gap widened when indices fell, thus increasing losses (the tropical food price index fell -6.9% in currency compared with -3.9% in Euro).

In one year however, the overall currency index nearly mirrored the Euro index performance and climbed +14.4% to 139.4 from 121.8 but most items managed to slightly over perform the Euro categories: the foodstuff price index climbed +6.7% to 119.6 from 112.1 and similarly, tropical food increased +3.5% to 121.9 from 117.8 along with oilseeds +3.4% to 117.2 from 113.3 The cereals price index increased +8.7% to 120.5 from 96.8 and sugar soared +32% to 127.8 from 96.8

The industrial products price index rose a substantial +17.8% to 150.5 from 127.8 and best performers included the rubber price index soaring +33.6% to 229.7 from 171.9 and non ferrous metals +23.7% to 162.6 from 131.4 The wood pulp price index stayed on a downward trend and dipped -6% to 87.8 fro 93.4 along with leather -5.3% to 100 from 105.5 The overall currency price index stood 31.1% higher than the Euro price index.

Car registrations collapsed in Q3 due to summer vacations keeping both purchases and production in a lethargic state. New car registrations declined a massive -27% to 146 300 units from 200 000 and recorded a first -28.6% dip in July but rebounded +45.6% in September. Second hand car registrations fell -9% to 437 300 from 480 000 with a -6% dip in July but surged +4.8% in September. New French car registrations dipped -31% to 79 000 cars sold against the previous quarter’s 114 600 units and foreign car registrations fell -22% to 67 300 from 85 800 Both gas and diesel engine car registrations consequently followed this downward trend and declined respectively -26% and -27%

In volume and for the third consecutive quarter, French and second hand cars remained in the lead although foreign cars 67 300 units edged closer to French cars 79 000 Diesel engine cars benefited from ever soaring crude oil prices reaching a new record high to U$D/barrel 64.10 in August, and represented more than twice the gas engine cars market share.

Car output fell -25% to 370 700 units from 496 300 and declined drastically in the summer, -16.3% in July and -65.3% in August but surged +235% in September. Exports followed a near similar pattern dipping -21% to 280 900 units from 356 300 but maintained the automobile sector in the black.

In one year, new car registrations grew +7.4% to 165 700 units from 154 300 and foreign car registrations increased an impressive +13.6% reaping a larger market growth share than French cars climbing +3.3% to 97 300 from 94 200 and despite a larger volume. Second hand car registrations remained quasi stable growing a mild +0.2% to 432 100 units sold from 431 400 but remained in the lead in numbers. Despite crude oil prices prohibitive increases gas engine cars jumped +11.4% to 50 800 units from 45 600 but diesel engine car registrations still rose +6% to 114 500 from 108 00  In volume however, second hand diesel engine cars remained in the lead.

Output only grew +1.1% to 515 200 from 509 800 and reflected a sluggish market due mostly to fierce competition forcing at various occasions temporary car plants to shutdown Exports nevertheless rose +3% to 376 000 from 365 800

The external trade deficit widened in Q3 despite exports climbing +2% to Euro 29656bn while imports increased +2.4% to Euro 32503bn 

Consumer goods, capital goods, and energy recorded substantial and positive export gains due to strong demand respectively +2.6% +8.1% and +15% while inversely, the automobile sector’s exports collapsed -5.9% as both competition and the summer recess saw the month of August reduce production to near minimalist capacity.

The food and agriculture industry exports grew a mild +1.1% Intermediate goods gained slow but steady momentum month on month and saw exports increase a modest +0.8% despite capital goods strong gain. The fisheries-agriculture exports declined an impressive -6.1% impacted by record oil prices soaring +25.7% on the same period shifting thus orders to lesser priced regions due to packaging and transport costs. In volume, the export index performed for the most part inversely to exports in revenue and revealed market share losses despite some producer prices cuts: the consumer goods export index fell -0.2% in volume to 239.4 from 239.8 (but grew +2.6% in revenue due to local demand) Intermediate goods increased +2.6% in volume to 187.5 from 182.7 but only rose +0.8% in revenue. For sectors recording export losses in revenue, the export index in volume dipped even lower : the fisheries-agriculture group export index in volume declined -6.4% to 147.1 from 157.1 and -6.1% in revenue. The food and agriculture industry export index in volume declined -1.3% in volume to 125.5 from 127.2 and gained a slight +1.1% in revenue while the automobile industry ‘s export index in volume collapsed -8.7% to 243.8 from 240.2 and -6% in revenue. The energy sector and capital goods remained the exceptions : the energy export index in volume fell -1% to 533.6 from 538.8 but surged +15% in revenue as electricity costs pegged to oil prices allowed for substantial gains. The capital goods export index climbed +1.5% in volume to 243.8 from 240.2 but increased +8.1% in revenue due to the nature of orders placed and involving generally heavy machinery.

Imports remained modest with the exception of energy imports jumping +15.3% and worsening thus the trade gap due to oil prices. Sectors that had recorded near to negative export gains remained tamed as regards imports: the fisheries-agriculture sector’s imports stayed quasi-stable rising +0.2% with a -2.4% gap in September. The food and agriculture industry performed similarly and saw imports increase a mild +1% but dipping -1.8% in September. The automobile industry imports declined -3.4% with both July and August reflecting the summer period but surged +6.1% in September with no positive impact however on its quarterly performance. Consumer goods, capital goods and intermediate goods imports stayed mild respectively increasing +1.4% +1.7 and +0.7% Imports in volume by contrast fell but increased in revenue due to a weak dollar rendering costs higher in currency terms. The fisheries-agriculture import index fell -3% in volume to 181.6 from 187 and the food and agriculture industry’s decreased -1.5% to 140.1 from 142.2 The consumer goods import index in volume declined -1% to 247.2 from 249.7 but intermediate goods rose +1.3% to 204.8 from 202.2 The automobile industry import index dipped the strongest -6.8% to 199 from 213.5 Only two sectors performed inversely to their respective exports in revenue. The energy import index decreased -4.1% to 113.1 from 117.9 and capital goods’ -2.2% to 361 from 369.2 

In one year, exports increased +10.2% to Euro 30392bn and imports +8.8% to Euro 32811bn Industrial exports performed best : exports jumped +20.5% due to strong demand to Euro 7533bn from Euro 8684bn Intermediate goods benefited from capital goods’ performance and grew +5.1% to Euro 9125bn from Euro 6249bn Consumer goods exports increased +7.2% to Euro 4600bn from Euro 4293bn although a strong internal demand outperformed foreign trade. Energy exports increased an impressive +64% to Euro 1490bn from Euro 909mn 

Other sectors exports stayed tamer : the food and agriculture industry performed steadily but only gained +1.3% to Euro 2481bn from Euro 2448bn Although the automobile industry exports remained above imports and salvaged that sector compared with a sluggish internal market, exports recorded a strong decline in the quarterly period to September and consequently climbed a slight +1.4% to Euro 4478bn from Euro 4416bn The fisheries-agriculture exports performed nearly similarly but fell -5.4% to Euro 823mn from Euro 870mn impacted by lower demand due to record oil prices inflating transportation-packaging costs. Out of imports, all sectors recorded substantial increases : the energy group saw imports climb +32.4% to Euro 4649bn from Euro 3512bn worsening thus the trade deficit due to record oil prices. Consumer goods imports rose +7% to Euro 5300bn from Euro 4953bn Intermediate goods and capital goods imports grew respectively +7% to Euro 9778bn from Euro 9145bn and +5.8% to Euro 6746bn from Euro 6377bn and the automobile industry imports increased +5% to Euro 3666bn from Euro 3496bn despite already high stock levels. The food and agriculture industry imports rose +4.2% to Euro 2017bn from Euro 1936bn and the fisheries-agriculture imports climbed +5.5% to Euro 735mn from Euro 697mn

Per region and in Q3, the OECD remained France’s largest trade partner but exports stagnated rising only +2% to Euro 23752bn from Euro 23287bn Exports to the EU grew even milder +0.6% to Euro 19129bn from Euro 19011bn The Euro zone fared slightly better with exports rising +1.4% to Euro 14887bn from Euro 14690bn Exports to the Asean (Malaysia, Indonesia, Philippines, Singapour Thaïland Brunei, Laos, Vietnam, Cambodia Birmany) and Africa region increased +1.1% to Euro 3205bn from Euro 3171bn and concerned mostly Africa. Imports stayed flat for the most part with the exception of the Asean-Africa region imports increasing +7.6% to Euro 3140bn from Euro 2917bn and mostly from Africa.The OECD region’s imports increased only +0.4% to Euro 24482bn from Euro 24395bn Both the EU and Euro zone imports declined respectively -1% to Euro 19630bn from Euro 19832bn and -1.2% from Euro16028bn to Euro -16226bn

In one year, exports picked up momentum but only the Asean-Africa region recorded figures above 10% with exports climbing +12.5% to Euro 3303bn from Euro 2935bn and mostly to Africa. Exports to the OECD increased +7.1% to Euro 24319bn from 22715bn and to the EU +6% to Euro 19610bn from Euro 18519bn Exports to the Euro zone rose +6.2% to 15265bn from Euro 14371bn Imports performed nearly similarly with the Asean-Africa region imports jumping +14.1% to Euro 3080bn from Euro 2700bn and mainly from Africa. The OECD’s imports increased +7.4% to Euro 24936bn from Euro 23222bn Imports from the Euro zone performed better than the EU ’s and increased +6.2% to Euro 16319bn from 15362bn compared with imports rising +5.7% to Euro 19948bn from Euro 18865bn.

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