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Financial News: France Industrial Output Falls Most Since Early 2018

France Industrial Output Falls Most Since Early 2018

08/09/2019 - 03:34:00 (RTTNews)

(RTTNews) - France's industrial output declined at the fastest pace in one-and-a-half years in June largely due to a sharp contraction in petroleum product manufacturing, the statistical office Insee showed Friday.

Industrial production fell 2.3 percent month-on-month in June, in contrast to a 2 percent rise in May. This was the biggest fall since January 2018 and was the first drop in three months.

Similarly, manufacturing output decreased 2.2 percent following a 1.6 percent increase a month ago.

Mining and quarrying output fell 3.1 percent after an increase of 4.7 percent in the previous month. Meanwhile, construction output grew 1.2 percent but slower than the 2.5 percent rise in May.

Over the second quarter, manufacturing output declined 0.3 percent, while output of the whole industry gained 0.3 percent.

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