Data published by INSEE showed that industrial production decreased by 0.5% in July, partially offsetting the July increase (+0.8%). Economists had expected production to decline by 0.2%. Meanwhile, manufacturing output fell by 0.9% after rising 0.9% in June.
INSEE said that output fell in the manufacture of transport equipment (-4.9% after +3.1% in June), and especially in the manufacture of motor vehicles, trailers and semi-trailers (-4.6% after +2.8%). The decline was also recorded in the “other manufacturing industries” (-0.6% after +0.7%), the manufacture of coke and refined petroleum products (-9.9% after +12.8%) and the manufacture of food products and beverages (-0.3% after -0.2%). On the contrary, it accelerated in mining and quarrying, energy, water supply (+1.8% after +0.3%) and bounced back in the manufacture of machinery and equipment goods (+2.0% after -1.1%)
Over the past three months (through July), industrial production fell by 2.3% per annum, while manufacturing production decreased by 3.0% per annum. Output fell in the manufacture of machinery and equipment goods (-6.8%), the manufacture of transport equipment (-7.1%), the manufacture of coke and refined petroleum products, the “other manufacturing industries" (-1.5%) and in the manufacture of food products and beverages (-0.9%). On the contrary, it increased in mining and quarrying, energy, water supply (+1.1%).