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Financial News: France Industrial Output Recovers In July

France Industrial Output Recovers In July

09/10/2019 - 03:49:00 (RTTNews)

(RTTNews) - France's industrial production recovered in July but the pace of growth was weaker than expected, figures from the statistical office Insee showed Tuesday.

Industrial output expanded 0.3 percent on month, in contrast to a 2.3 percent fall in June. Economists had forecast a 0.5 percent rise.

Likewise, manufacturing output gained 0.3 percent reversing June's 2.2 percent decrease. Nonetheless, the pace of increase was slower than the expected 0.8 percent.

The increase in manufacturing output was largely driven by rebound in refined petroleum products and transport equipment production.

Meanwhile, mining and quarrying output slid 0.1 percent and construction output contracted 4.2 percent.

In three months to July, output declined in manufacturing industry by 0.3 percent, while that in whole industry grew 0.4 percent.

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