French July industrial output posts surprise 1.3 pct fall from June

Seasonally-adjusted French industrial output for July was down 1.3 pct from June, following a 0.1 pct decline in June, a surprise to many analysts, who had forecast a consensus rise of 0.4 pct on the month.
Manufacturing output, which excludes food and energy, was down 1.5 pct in July compared with a 0.6 pct slide the month before, according to data from the Insee statistics office.
Analysts had expected manufacturing output to rise 0.2 pct.
Every component of Insee's production survey posted declines, led by intermediate goods, which fell 2.4 pct in July after the 0.1 pct fall in June.
Food output was down 0.9 pct on the month after a 0.4 pct rise last time, while for consumer goods it decreased 0.6 pct compared with a 1.2 pct fall.
Automobile output declined 1.4 pct after the 3.8 pct drop in June, and capital goods production was down 0.4 pct against a 0.5 pct gain.