Forex News

Industrial production of France in April declined for the second consecutive month

French industrial production declined in April for the second consecutive month due to weak mining, the statistical office Insee reported on Friday. The volume of industrial production unexpectedly fell by 0.5 percent in April on a monthly basis after a decrease of 0.4 percent in March. The forecast was made with regard to the growth of the volume of industrial production by 0.3 percent. At the same time, the manufacturing sector expanded by 0.4 percent, but slightly slower than 0.3 percent a month ago. Economists predicted a faster growth of 1.3 percent. The mining sector showed a decrease of 5.8 percent on a monthly basis, while the output of the construction sector in April rose by 2.9 percent. In the first quarter, industrial output fell by 0.5 percent compared to the previous three months, while the manufacturing sector showed a more significant decrease of 1.1 percent.