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Financial News: France Industrial Output Growth Improves In August

France Industrial Output Growth Improves In August

10/05/2021 - 03:02:00 (RTTNews)

(RTTNews) - France's industrial production growth doubled in August largely driven by the rebound in the manufacture of machinery and equipment and mining, data released by the statistical office Insee showed on Tuesday.

Industrial production grew 1 percent month-on-month, faster than the 0.5 percent increase in July. Economists had forecast the rate to slow to 0.3 percent.

At the same time, manufacturing output advanced 1.1 percent after rising 0.7 percent in July.

Manufacture of coke and refined petroleum products grew 3.2 percent and that of machinery and equipment goods by 1.8 percent. Other manufacturing was up 2.4 percent. On the other hand, transport equipment fell 1.6 percent.

Mining and quarrying, and energy output gained 0.5 percent. Meanwhile, construction contracted 1.8 percent after rising 1.4 percent a month ago.

Compared to February 2020, the last month before the first general lockdown, manufacturing output declined 4.5 percent and by 3.9 percent in the whole industry.

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