Global| Sep 10 2007French IP Bucks Trends with Large Gain
Summary
French industrial output is up strongly on the heels of weak numbers from Germany and the UK and with ongoing weakness in Italy. In France, industrial production jumped by 1.3% in July, boosted by autos, a sector that had been weak. [...]
French industrial output is up strongly on the heels of weak numbers from Germany and the UK and with ongoing weakness in Italy. In France, industrial production jumped by 1.3% in July, boosted by autos, a sector that had been weak. Consumer spending is still touch-and-go as the output of consumer goods that services that demand fell in July and rose by just 0.1% in June. Capital goods output and intermediate output remain firm and have strengthened in recent months. The consumer remains as a big question-mark in EMU. The unrest in financial markets raises further questions about the consumer and confidence. France stands in stark contrast to industrial production trends elsewhere in the Euro area.
| SAAR except m/m | Jul-07 | Jun-07 | May-07 | 3-month | 6-month | 12-month |
| IP total | 1.3% | -0.6% | 0.8% | 5.9% | 3.9% | 2.6% |
| Consumer | -0.1% | 0.1% | 0.9% | 3.5% | 1.6% | 1.4% |
| Capital | 1.0% | 0.6% | 0.5% | 8.8% | 6.0% | 3.5% |
| Intermediate | 1.7% | -1.0% | 0.7% | 5.8% | 5.2% | 3.6% |
| Memo | ||||||
| Auto | 4.7% | -2.4% | -2.5% | -1.5% | 4.2% | 2.3% |
Robert Brusca
AuthorMore in Author Profile »Robert A. Brusca is Chief Economist of Fact and Opinion Economics, a consulting firm he founded in Manhattan. He has been an economist on Wall Street for over 25 years. He has visited central banking and large institutional clients in over 30 countries in his career as an economist. Mr. Brusca was a Divisional Research Chief at the Federal Reserve Bank of NY (Chief of the International Financial markets Division), a Fed Watcher at Irving Trust and Chief Economist at Nikko Securities International. He is widely quoted and appears in various media. Mr. Brusca holds an MA and Ph.D. in economics from Michigan State University and a BA in Economics from the University of Michigan. His research pursues his strong interests in non aligned policy economics as well as international economics. FAO Economics’ research targets investors to assist them in making better investment decisions in stocks, bonds and in a variety of international assets. The company does not manage money and has no conflicts in giving economic advice.
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