French Consumer Spending Drops on Unemployment Woes

[ASusilovic]

French consumer spending unexpectedly fell in November as concern about unemployment outweighed the impact of government incentives to buy new cars.

Spending on manufactured goods declined 0.1 percent from October, national statistics office Insee said in a statement today. Economists expected a 0.5 percent gain, the median of 10 estimates in a Bloomberg survey showed. November spending rose 3.2 percent from a year earlier and October’s month-on-month increase was revised down to 1 percent from 1.1 percent.

French households are grappling with joblessness at a three-year high in the wake of the deepest recession in more than half a century. While subsidies have spurred car sales, consumers are cutting back in other areas, causing spending to drop in six of the first 11 months of 2009.

http://www.bloomberg.com/apps/news?pid=20601068&sid=aE19l6wr33Ts

Spending cuts in France should "bolster" recovery "hopes"...

 

[nazzdack]

Quote from ASusilovic:
Spending cuts in France should "bolster" recovery "hopes"...

Are you going to buy a Peugeot or Renault with part of your bonus? How about a bottle of "Louis the 13th" cognac?

 

[Thermactor]

Sacrebleu!

 

[Alexandre]

let's go burn some cars, tag some monuments, beat the shit out of some little superdwarf that goes by the name of Sarkozy, and do some maths by trying to figure out how many men and women Carla Bruni has slept with (very difficult to figure out when taking into account "les partouzes").

I don't remember, did I sleep with Carla?

 

[Brendan R]

ah ah, too funny.

France and its maxi uber super midget leader, he is such a joke.

By the way, burning cars in France is a government approved initiative. Tags also are appreciated, it's "l'art de la rue".

All these poor youngsters with no future, come on, let them have fun!!!

 

[Debaser82]

Quote from Brendan R:

ah ah, too funny.

France and its maxi uber super midget leader, he is such a joke.

By the way, burning cars in France is a government approved initiative. Tags also are appreciated, it's "l'art de la rue".

All these poor youngsters with no future, come on, let them have fun!!!

Always funny when Americans laugh at the French these days, considering they only had to support their internationaly active banking system with an amount of $ less than what Goldman Sachs spend on their latest Cristmas bonusses.

Those damn socialists! Don't they know free markets are the only way to prosperity?