France industrial production drops 1.7 percent in May

Nathan Andrada – Fourth Estate Cooperative Contributor

Paris, France (4E) – Industrial production in France surprisingly fell in May, after rising in the previous month, according to data from the statistical office INSEE released Thursday.

The industrial production index dropped 1.7 percent in May on month, compared with economists’ forecast for a gain of 0.2 percent. In April, the figure expanded 0.3 percent.

Manufacturing output fell 2.3 percent in May on monthly terms, after staying unchanged in the prior month. The figure was initially forecast at 0.3 percent growth for April. Economists had predicted May’s reading to remain flat.

Manufacture of food products and beverages dropped by 1.0 percent and that of transport equipment fell by 3.5 percent.

Output in the construction sector shrank 0.7 percent in May, faster than the 0.3 percent decline in April.

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