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French industrial production unexpectedly drops in August

French industrial production unexpectedly declined 0.9% on a monthly basis in August after a 0.3% increase in July, data from the country's National Institute of Statistics and Economic Studies showed.

The consensus estimate from economists polled by Econoday was for a 0.4% increase in factory output during August.

Manufacturing output fell 0.8% month over month in August, led by a 2.2% decrease in output for machinery and equipment goods. Growth in manufacturing of coke and refined petroleum products slowed on a monthly basis in August to 1.5% from 5.7% in July.

Output in mining and quarrying, energy, water supply and waste management dropped 1.4% during August after adding 0.1% in July.

In annual terms, industrial production dropped by 0.5% during August, led by a 0.8% decline in the manufacturing sector. Mining and quarrying, energy, water supply and waste management output rose 1.0% in August on an annual basis.