Dominique Barbet
Dominique Barbet
consumer durable ensure improving situation spending
The consumer spending situation is improving in Europe; that's what we need to ensure durable growth.
clear industry june recovery signs terms
It was very clear that industry was lagging behind, especially in terms of export-driven growth. In June we have signs of some recovery and I think this will continue.
confirm figures indeed recovery
These figures confirm that the recovery is indeed happening.
drop employment french improvement increases pointing reflecting slow
We have had an improvement in the French economy, pointing to an improvement in employment too. We will have a slow drop in unemployment, reflecting slow increases in employment.
christmas correction data explain five impact poor possible reported retailers strong
A possible explanation is that the data correction is overcorrecting the impact of the five Saturdays in December, which would explain why the data is poor when the retailers reported strong Christmas sales.
ahead restraint
This can be attributed to the slowdown and restraint ahead of the euro.
core decline energy expected fall goods inflation prices services
This is a big surprise, it's the core of inflation that's falling. Energy prices were expected to fall but the decline in prices for manufactured goods and services was not.
among brings confidence expect good happening less morale people positive rate rises salary sales seeing seems spending wage week
Globally, confidence is still positive but we can't expect sales to take off or spending to surge. What seems to be happening is that while the jobless rate is falling, people are seeing less salary rises as the 35-hour week brings wage moderation, so morale is not so good among consumers.