French Industrial Output Drops In May

French industrial output dropped in May amid widening current account deficit, according to Insee, the national statistics agency. The euro zone’s second-largest economy has seen its industrial production dropping 0.4 percent, after a surge of 2.2 percent posted in April. The contraction is, however, less than 0.8 percent anticipated by economists. Signs of weakness in France have concerned Europe, as the second-largest economy entered a shallow recession during the first quarter. According to Insee, French manufacturing output has gained 0.6 percent over the past three months, aided by a 5 percent increase in production of transport materials and a 8.1…