France: Industrial output growth ebbs in July
Industrial output grew 0.3% month-on-month in seasonally-adjusted terms in July, softening from June’s 0.6% rise. July’s slowdown was largely driven by cooling manufacturing production growth. Moreover, mining and quarrying output tumbled over the prior month.
On an annual basis, industrial output rose at a softer pace of 4.0% in July (June: +7.3% yoy), the worst result since February. Meanwhile, annual average industrial production growth rose to 3.1% in July (June: +1.9%), signaling an improving trend in the industrial sector.