8 ordspråk av Dominique Barbet

Dominique Barbet

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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.

These figures confirm that the recovery is indeed happening.

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.

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.

The consumer spending situation is improving in Europe; that's what we need to ensure durable growth.

This can be attributed to the slowdown and restraint ahead of the euro.

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.

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.

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