Industrial Production in France Grows after Decline
The unemployment rate in Canada rose to 7.2% in July and nearly 39,000 jobs were lost. The decline was mostly in young people aged between 15 and 24 years. But, it does not mean that it was the only age group to have suffered, as women aged over 55 also got the taste of it. Major job cuts were seen in the public sector. Canada's industrial production was reported to remain flat on monthly basis in June.
On the other hand France's industrial production sought a decline 1.4% month on month in June. However, a rise of 1.4% was sought quarter on quarter in the April-June period. Manufacturing production was reported to go down by 0.4% month on month in June. But, it grew 1.5% on a quarterly basis.
Diego Iscaro is a principal economist at IHS Global Insight. He said, "The largest downward pressure came from energy - which is very volatile and had been increasing strongly in recent months due to the unseasonably cold weather, but developments in most of the remaining sectors were hardly encouraging".
According to him, difficult conditions will take time to improve, which is likely to be gradual and prone to relapses.
China's industrial production at large enterprises increased 9.7% in July from previous year. It was the fastest pace of growth since February.
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