French Factory Output Falls

French industrial production fell sharply and unexpectedly in January on declines in energy and manufacturing output, statistics showed Friday, MarketWatch reported. Industrial production in the eurozone’s second-largest economy fell 2% in January from December, statistics agency Insee said. Economists polled by the Wall Street Journal had forecast industrial production to hold up at the same level in January as December. The soft industrial-output figures at the start of the year contrast with France’s bumper economic performance in 2017. That strong economic performance had led economists to revise up their expectations for 2018. Insee said manufacturing output dropped 1.1% month on month in January and energy and water production tumbled 6.7%. It also reported declines in the production of clothing, chemicals and pharmaceuticals, rubber and metals. Still, Insee said equipment output rose 1.4% month-on-month in January, boosted by machine production.