France's industrial output falls by 2.1% in May, exceeding expectations

By Sahika Olgun

ISTANBUL (AA) - France's industrial output posted a decrease of 2.1% in May on a monthly basis, after rising 0.6% in April, official data showed on Friday.

It was above the market expectation, which had forecast a 1.5% drop in industrial output.

According to the country's statistical authority Insee, output also dropped by 2.7% for the manufacturing industry after rising by 0.5% in April.

“In May 2024, output fell back in the 'other manufacturing industries' (‑3.5% after +0.9%) and in the manufacture of machinery and equipment goods (‑4.6% after +2.8%). It decreased again in the manufacture of food products and beverages (‑0.6% after ‑0.7%) and in the manufacture of transport equipment (‑0.7% after ‑2.4%),” Insee said.

It added that prices bounced back in the manufacture of “other transport equipment” (+3.3% after ‑4.8%). On the contrary, it increased again in mining and quarrying, energy, water supply (+1.1% after +1.3%) and bounced back in the manufacture of coke and refined petroleum (+3.9% after ‑0.5%).