French June industrial output falls on refinery strikes
- S&P, Nasdaq hit highs on gains in health, tech stocks
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Sibanye Gold (SBGL) to Acquire Stillwater Mining Company (SWC) in $2.2B Deal
- Exclusive: ECB rejects Monte Paschi's request for more time to raise cash - source
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
PARIS (Reuters) - French industrial production unexpectedly fell 0.8 percent in June from May, figures from the INSEE official statistics agency showed on Wednesday, due largely to a decline in refinery activity during nationwide strikes.
A Reuters poll of 22 economists had an average forecast for a rise of 0.1 percent with estimates ranging from -1.0 to +1.3 percent.
The decline was driven by a 12.4 percent drop in the refining sector, INSEE said, following a 21 percent decrease the previous month, as strikes at Total's refineries disrupted production. The French oil major was only able to resume production around the middle of June after the 27-day strike.
But June output was also down 2.6 percent in the equipment goods sector, and 1.7 percent in the transport material sector, with only the mining, energy and water sector expanding with a 1.9 percent rise.
Over the second quarter as a whole, industrial production was down 0.1 percent from the previous quarter, and up 0.4 percent from the same quarter a year ago.
The following are the main figures given by INSEE (percentage changes). The year-on-year figures compare the last three months with same period a year earlier and three-month figures compare the last three months with preceding three months.
For full details from INSEE: http://www.insee.fr/en/themes/info-rapide.asp?id=10
For a graphic: http://link.reuters.com/huq57s
(Reporting by Paris Newsroom; editing by Richard Lough)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Spain's Rajoy says less austerity needed to fight off populism: WSJ
- Swiss seize evidence from AMAG group in VW emissions case
- Algeria deports hundreds of West African migrants to Niger
Create E-mail Alert Related CategoriesReuters
Related EntitiesIndustrial Production
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!