France: Industrial output grows unexpectedly
September 10, 2012
In July, industrial output added 0.2% over the previous month in seasonally adjusted terms, which was up from the flat reading tallied in June. The monthly reading contrasted market expectations of a 0.5% drop. On an annual basis, industrial activity contracted 3.1% in July, which was down from the 2.5% decline observed in June. As a result, the trend remains in negative territory for the second consecutive month, with annual average variation in industrial production declining from minus 0.4% to minus 0.9%, the lowest level in over two years.