France: Industrial activity contracts at sharpest pace since February 2021 in July
Industrial production fell 1.6% month-on-month in seasonally-adjusted terms in July (June: +1.2% mom). July’s result marked the lowest reading since February 2021. The figure largely reflected a fall in manufacturing and mining output. In addition, energy production contracted.
On an annual basis, industrial output fell 1.2% in July (June: +1.0% yoy) and similarly marked the weakest result since February 2021. Accordingly, the trend pointed down, with the annual average growth of industrial production coming in at an over one-year low of 0.1% in July, down from June’s 0.5%.