Chirac optimistic despite depressing economic data
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PARIS: French President Jacques Chirac said yesterday he remained optimistic on the outlook for the economy despite data last week showing growth at just 0.1 per cent in the third quarter this year.
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Federal Reserve Chairman Ben Bernanke offered a mostly upbeat assessment of the economy Wednesday, citing improvements in inflation and housing in comments suggesting the Fed will leave interest rates alone for a while.
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Official figures indicate that French jobless numbers show no sign of easing, and that consumer confidence is on the slide.
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French consumer confidence soared to a five-year high in May on optimism about jobs and incomes, official figures showed Thursday, a surge analysts attributed to the election of reformist President Nicolas Sarkozy.
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The European Central Bank has left interest rates unchanged, playing down fears of a stumbling economic recovery and expressing confidence that
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Consumers were feeling confident in January: The job market was chugging along and oil prices were down. Their optimism may dwindle, however, on concerns that job and wage growth may slow.
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PARIS -- Voters resoundingly endorsed President Nicolas Sarkozy's plans to overhaul the French economy, giving his party a commanding lead yesterday in the first round of elections for parliament.
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A leading economic think-tank sees a strong recovery in the second half of the year for major industrial economies, in spite of high oil prices, and says inflation is not yet a concern.
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PARIS President Jacques Chirac of France will return from a lavish five-day state visit to China on Tuesday with industrial orders worth more than $4 billion, a success that is not going unnoticed in neighboring European countries and may intensify
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The companyâs strong quarterly results and optimistic outlook suggest that a weakening economy will not slow it down.
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Investors have become downright optimistic in recent weeks, thanks in part to an avalanche of solid earnings reports and economic data.
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London equities stayed in neutral gear on Friday, after news of stronger-than-expected third quarter GDP growth provided optimistic insight into the economy but undermined hopes for an interest rate cut in November.
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France will meet its European budget commitments in 2005, bringing its deficit under the 3 percent of the EU limit for the first time in four years, President Jacques Chirac said Wednesday.
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President Jacques Chirac has been busy talking up the advantages of trade with France on his current Asian tour - but back home the newspapers have been lukewarm on his performance.
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U.S. stocks were little changed on Thursday, as optimism about technology profits helped cancel out worries about how much the credit crunch has hurt the economy, after disappointing earnings from Bank of America.
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France's growth rate may fall short of government forecasts in 2005, crimped by slowing exports and consumer spending, the national statistics office said.
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WASHINGTON -- Better than expected performance in the US manufacturing sector in February helped calm investors yesterday, even as economists cautioned that one month's worth of data is not a cause for too much optimism.