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Financial News: France Industrial Output Growth Slows

France Industrial Output Growth Slows

09/10/2021 - 03:19:00 (RTTNews)

(RTTNews) - French industrial production and manufacturing grew at slower rates in July, preliminary data from the statistical office INSEE showed Friday. Industrial production grew 0.3 percent from June, when it increased 0.6 percent. Economists had forecast 0.4 percent gain. Production rose for a second straight month. Manufacturing output rose 0.6 percent after a 1.0 percent increase in June. Compared to February 2020, which is before the first Covid-19 lockdown began, industrial production was 4.8 percent less and manufacturing output remained 5.5 percent lower. In July, manufacturing growth was largely driven by further growth in the production of transport equipment, food products and beverages, and machinery and equipment. Output decreased in mining and quarrying, energy, water supply and in other manufacturing. A sharp fall was registered in the manufacture of coke and refined petroleum. Among the main industrial groupings, manufacture of capital and intermediate goods increased, from the previous month, while the production of consumer durables, non-durables, and energy decreased.

Meanwhile, the construction output grew 1.4 percent month-on-month in July after a 1.9 percent fall in the previous month.

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