French Industrial Output Also Falls

Well, the picture is getting clearer:

French Industrial Output Unexpectedly Falls in July

French industrial production unexpectedly fell in July for a second month as manufacturing of cars and electronics gear slumped.

Production at factories, utilities and mines fell 1.3 percent from June, Insee, the national statistics office, said today in Paris. Economists expected an increase of 0.3 percent, the median of 28 forecasts in a Bloomberg survey shows. The June figure was revised to a decline of 0.1 percent from unchanged.

Economic growth in France and the dozen countries sharing the euro may be cooling, as oil prices near record highs and the euro's appreciation dent purchasing power and exports. Europe's third-largest economy expanded at the fastest pace in more than five years in the second quarter, driven by corporate investment amid higher European demand.