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French manufacturing contracts again in June

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Staff Writer |
French manufacturing
France   Economists had forecast a rise of 0.3%

Industrial production in France dropped sharply in July as output of machinery and equipment declined for a second consecutive month.

Total industrial production fell by 0.6% month-on-month, according to INSEE, as manufacturing output fell 0.3% and that from mining industries by 2.5%.

Economists had forecast a rise of 0.3%. Construction output on the other hand expanded by 4.8% versus June.

Within manufacturing, output from refineries surged 40.4% over the month after strikes in May and June ended.

Claus Vistesen, chief Eurozone economist at Pantheon Macroeconomics, described the fall in machinery and equipment production as "disappointing" following the 2.3% drop seen in the month before.

Transport equipment was also lower, slipping 1.4% after decreasing 1.7% in the month before.


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