✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

French March industry output drops sharply

Published 05/11/2009, 03:06 AM
Updated 05/11/2009, 03:08 AM

PARIS, May 11 (Reuters) - French industrial output fell more sharply than expected in March as big drops in production of electronic goods, energy and food outweighed a rise in the transport equipment sector, data on Monday showed.

National statistics office INSEE said industrial output fell 1.4 percent in March, much deeper than the 0.5 percent decline forecast by economists polled by Reuters.

Output in the first three months of the year was down 15.5 percent compared with the same period a year earlier and was down 6.9 percent compared with the preceding three month period, INSEE said.

Following some more positive signs in the economy, the figures underlined the extent to which the global economic crisis has hit the euro zone's second biggest economy, reflecting a wave of plant closures and production stoppages over recent months.

Manufacturing industry suffered a 1.1 percent monthly decline, while food and agriculture was down 0.6 percent, coke making and refinery activities were down 2.1 percent, electronic equipment production was down 1.7 percent and mining and waste treatment operations were down 2.9 percent.

The only positive note was a 1.3 percent rise in manufacture of transport equipment.

(For a full table of industry output data, please double click on [ID:nPAB004780] (Reporting by James Mackenzie, editing by Mike Peacock)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.