France’s industrial production unexpectedly down in July
by ChemOrbis Editorial Team - content@chemorbis.com
According to data compiled by France’s official statistics office, Insee, industrial production in the country declined 0.8% on a yearly basis in July, posting the biggest decline since 2014. Economists’ initial estimates called for an increase of 0.2% in a survey by Bloomberg.
The recent data showed that manufacturing output was down 1% after declining 0.6% in June. Economists commented that the recent data underscored the downside risk to the country’s economic growth in the third quarter while adding that the French economy should gain some support from lower crude oil prices and a weaker euro. In the second quarter, France’s economy grew 0.4%.
The recent data showed that manufacturing output was down 1% after declining 0.6% in June. Economists commented that the recent data underscored the downside risk to the country’s economic growth in the third quarter while adding that the French economy should gain some support from lower crude oil prices and a weaker euro. In the second quarter, France’s economy grew 0.4%.
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