France: Industrial production drops in June
August 10, 2011
In June, industrial output dropped 1.6% in seasonally adjusted terms over the previous month, contrasting the revised 1.9% expansion tallied in May (previously reported: +2.0% month-on-month) and marking the sharpest drop in a year. The reading overshot market analyst expectations, which had industrial output contracting a more moderate 0.7%. However, on an annual basis, industrial activity rose 2.3%. The monthly fall was primarily driven by lower production of electronic goods and transport equipment. The trend continues to point downwards, with annual average industrial output growth dropping from 4.2% in May to 4.0% in June.