French industry is tanking

France’s industrial production fell 0.8% year-on-year — down from a 0.6% rise in February, according to new figures released on Tuesday.

This is below economic forecasts of a 0.5% expansion.

Meanwhile, manufacturing production contracted 1.1% year-on-year, much lower than the expected 1.2% rise. It’s France’s worst industrial contraction since 2014.

It mirrors Germany, whose industrial production contracted 1.3% in March. On the plus side, German exports enjoyed an uptick, rising 1.9%.

Germany’s Economy Ministry remained positive, saying the export figures suggested things were looking up:

“The industrial sector has overcome its foreign trade related weak phase of the second half of 2015,” it said. “The economic trend in the industrial sector is currently pointing upward.”

NOW WATCH: 7 inventors who were killed by their own inventions

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.