‘A Write Off’: French Industrial Production Falls Again in May

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Dismal news for French manufacturers in May, who saw industrial production fall by 0.2 per cent compared to April as the sector registered a quarter-on-quarter decline, the Financial Times reported. The decline was below the 0.7 per cent rise expected by economists in a Reuters poll, and followed a 0.5 per cent fall in April, according to data from Insee. Over the quarter, manufacturing output in one of the eurozone’s biggest economies fell by 0.5 per cent, while overall industrial production fell by 0.8 per cent. The fall was driven by declines in the production of petroleum products, which dived by 14 per cent month-on-month and 15 per cent quarter-on-quarter, and in the construction sector. Production in the motor-vehicle industry also registered its second consecutive monthly fall. However, the production of food and drinks products edged up by 1 per cent over the month and by 1.3 per cent over the quarter. Read more. (Subscription required.)