Financial News: French Industrial Output Falls Marginally

French Industrial Output Falls Marginally

(RTTNews) - France's industrial production dropped marginally in May after rising for two straight months, the statistical office INSEE said Friday.

Industrial production fell 0.1 percent on a monthly basis in May, in contrast to the 0.3 percent rise in April and 1.4 percent increase in March. Economists had forecast a monthly decrease of 0.3 percent.

At the same time, manufacturing output posted a decline of 1.0 percent, partially offsetting the 0.6 percent increase seen in April.

Data showed that output decreased in all major branches of the manufacturing industry. The manufacture of transport equipment slid 2.8 percent and that of electrical, electronic and computer equipment decreased 2.3 percent.

The manufacture of coke and refined petroleum products plunged 9.0 percent due to a maintenance shutdown.

In mining and quarrying, energy, and water supply, output rebounded 3.2 percent after a 1.0 percent fall. The increase, which affected both electricity and gas supply, was due to higher consumption linked to cool temperatures in mid-month, followed by a heatwave at the end of the month, the statistical office said.

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