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French industrial output rebounds in July; Italy output falls more than expected

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French industrial output rebounds in July; Italy output falls more than expected

French manufacturing and industrial output rebounded slightly in July after contracting in June, data from the country's National Institute of Statistics and Economic Studies showed.

French industrial production climbed 0.3% from June, when it fell 2.3%, but was still lower than the 0.5% consensus estimate of economists polled by Econoday.

Manufacturing output rose 0.3% on a monthly basis, after dropping 2.2% in June. Production of food and beverages, and machinery and equipment fell, while output of coke and refined petroleum products, and transport equipment rose.

In the three months to July, manufacturing fell 0.3%, while total industrial output rose 0.4%. On an annual basis, manufacturing production climbed 0.7%, while industrial output grew 1.2%.

A separate report from Italy's National Institute of Statistics showed industrial production slipped more than expected in July, following a drop in June.

The seasonally adjusted industrial production index fell 0.7% month over month in July, compared with the Econoday consensus estimate for a 0.1% decline and a revised 0.3% drop recorded in the prior month.

Compared with the prior-year-period, industrial production was down 0.7% in July after calendar adjustments, slowing from the 1.2% annual decline recorded in June.