French industrial production records a sharp and unexpected decline. According to data released by the French statistical office Insee, in May production showed a decrease of 1,7% on a monthly basis, mainly due to the performance of the "coke and refining" sector (-8,4 %). The expectations of analysts were disappointed, as they had predicted a 0,2% increase.
Insee, in the morning, also released the data relating to inflation, which marks a slowdown in June. Indeed, consumer prices remained unchanged on a monthly basis and increased by 0,5% per year. Again, the figure is lower than analysts' estimates.
