France: Industrial activity tips back into contraction in May
Industrial output dropped 0.3% month-on-month in seasonally-adjusted terms in May (April: +0.1% mom). May’s reading was partly due to a deterioration in manufacturing output. In contrast, mining and quarrying production rebounded.
On an annual basis, factory output rose 20.5% in May, which was significantly below April’s 44.2% expansion. Meanwhile, the trend improved significantly, with the annual average variation of industrial production coming in at plus 2.1% in May, contrasting April’s minus 1.5%.