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Financial News: French Industrial Output Grows Unexpectedly

French Industrial Output Grows Unexpectedly

08/05/2022 - 07:28:00 (RTTNews)

(RTTNews) - France's industrial production expanded for the second straight month in June, defying economists' expectations for a decrease, data published by the statistical office Insee showed on Friday.

Industrial production advanced 1.4 percent month-on-month in June, well above the 0.2 percent rise in May. In contrast, economists had forecast a decline of 0.2 percent.

Manufacturing output also grew at a faster pace of 1.2 percent monthly in June, following a 1.0 percent gain in May.

Within manufacturing, production of capital goods grew 3.5 percent and food industry output logged an increase of 2.2 percent. Meanwhile, production in the coking and refining segment dropped 3.1 percent.

Production in the utility sector registered an increase of 3.0 percent, while mining and quarrying output dropped 1.0 percent.

Data showed that construction output was 1.9 percent lower in June compared to May's 0.4 percent gain.

During the second quarter, manufacturing production expanded 2.0 percent compared with the corresponding period last year.

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