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Financial News: France Industrial Production Falls Unexpectedly In May

France Industrial Production Falls Unexpectedly In May

07/05/2021 - 08:13:00 (RTTNews)

(RTTNews) - French industrial production declined unexpectedly in May driven by a notable fall in transport equipment output, data published by the statistical office Insee showed on Monday.

Industrial output fell 0.3 percent in May from April, when output was up 0.1 percent. Production was forecast to climb 0.8 percent.

At the same time, manufacturing output declined 0.5 percent, following a marginal 0.1 percent drop in April.

The manufacture of transport equipment decreased 5.4 percent due to shortages of raw materials in the automotive industry and the manufacture of machinery and equipment goods was down 0.8 percent.

On the contrary, it continued to grow in the manufacture of food products and beverages by 1.4 percent. Output recovered in the manufacture of coke and refined petroleum by 5.2 percent. At the same time, mining and quarrying, energy, water supply advanced 0.9 percent.

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