France: Industrial production rebounds in June
August 8, 2014
In June, industrial production expanded a seasonally-adjusted 1.3% over the previous month. The reading contrasted May’s revised 1.6% contraction (previously reported: -1.7% month-on-month) and came in above market expectations of a 1.0% increase. June’s expansion was the strongest recorded since April 2013, although it benefited from a strong base effect. According to the Statistical Institute, the increase resulted from the rebounds registered in the manufacturing and construction sectors.
On an annual basis, industrial production contracted 0.4% in June, which was softer than the 3.4% drop tallied in May and marked the mildest contraction since November 2013. Annual average growth in industrial production was stable in June at May’s minus 0.8%.