French Industrial Production Falls Unexpectedly

(RTTNews) - France's industrial production decreased unexpectedly in July, data from the statistical office INSEE showed Wednesday.

Industrial output dropped 0.4 percent in July, confounding expectations for an increase of 0.2 percent. July's drop followed a 0.1 percent decrease in June.

With total production, manufacturing output fell 0.8 percent but slower than the 1.0 percent decline registered in June. Output declined in almost all major branches of the manufacturing industry, except in coke and refined petroleum products.

Data showed that output increased again in mining and quarrying, energy, and water supply, by 0.9 percent after climbing 3.2 percent in June, and reached its highest level since November 2021.

In the three months to July, cumulative industrial output rose 0.8 percent from the same period last year. However, production fell by 0.4 percent in the manufacturing industry.