France: Industrial production increased significantly in June

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French industrial production rose sharply in June, beating forecasts for a recession, despite supply chain problems and the energy crisis.

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According to data released today by the statistical agency Insee, total industrial production increased by 1.4% compared to the previous month.

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Economists had expected factory output to fall 0.2% on a monthly basis.

Manufacturing output rose 1.2% in June from a month earlier and energy production rose 2.4%.

Construction output, however, shrank by 0.9%.

Insee revised last month’s output data, and after the revision, industrial production rose 0.2% month-on-month instead of the initial estimate of stagnation.

Source: Capital

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