Financial News: France Industrial Output Recovers In June

France Industrial Output Recovers In June

08/02/2024 - 04:57:00 (RTTNews)

(RTTNews) - France's industrial production recovered in June largely driven by the rebound in transport equipment output, data from the statistical office INSEE showed Friday.

Industrial production registered a monthly growth of 0.8 percent in June, in contrast to the 2.2 percent decrease in May. However, this was weaker than the expected growth of 1.0 percent.

Manufacturing output also grew by 0.8 percent, reversing May's 2.7 percent decline. The manufacture of transport equipment gained 3.4 percent reflecting the rebound in the production of motor vehicles, trailers and semi-trailers. Moreover, there was a double-digit 12.3 percent rise in the manufacture of coke and refined petroleum products.

Mining and quarrying, energy, water supply grew more moderately by 0.7 percent. By contrast, the manufacture of machinery and equipment goods dropped 1.1 percent.

Further, data showed that construction output climbed 1.8 percent, offsetting the 0.9 percent decrease in the previous month.

In the second quarter, industrial production fell 0.6 percent from the prior quarter and manufacturing decreased 0.9 percent.

Earlier this week, official data showed that the <a href=https://www.rttnews.com/3463906/france-gdp-growth-beats-expectations.aspx target=_blank >French economy</a> grew by more-than-expected 0.3 percent in the second quarter on investment and exports.

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