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France Industrial Production Falls For First Time In 3 Months

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France industrial production fell for the first time in three months in July, data published by the statistical office Insee showed Friday.

Industrial production declined 1.6 percent from June, when output was up 1.2 percent. This was the first fall in three months. Economists had forecast a moderate 0.5 percent drop for July.

Likewise, manufacturing output decreased 1.6 percent on month, in contrast to the 0.9 percent increase in June.

Manufacture of machinery and equipment declined 1.9 percent and that of transport equipment was down 1.8 percent. In addition, manufacture of food products and beverages slid 0.8 percent.

On the other hand, production of coke and refined petroleum products grew 1.1 percent.

Further, output of mining and quarrying, energy, water supply and waste management dropped 2.1 percent, while construction output grew 0.5 percent.

In the manufacturing industry, cumulative manufacturing output over three months to July was higher than that of the same months of the previous year by 1.8 percent. However, it was down slightly in the whole industry by 0.2 percent.

Economic News

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