Global| Nov 20 2007French Orders Weaken
Summary
We continue to monitor order trends. Trends for France are still higher over 12 months at +6.4%. Foreign orders are a half step behind at +5.5%. But over six months the growth rate is lower and over three months the growth rate is [...]
We continue to monitor order trends. Trends for France are still higher over 12 months at +6.4%. Foreign orders are a half step behind at +5.5%. But over six months the growth rate is lower and over three months the growth rate is negative for both overall and foreign orders. Total and foreign orders are lower in two of the most recent three months.
The French economy has been losing momentum and now it is beset with strikes. These are in sharp contrast with the post election enthusiasm that kept sentiment strong well after the elections. The prospect of change was invigorating; the reality of what it will really mean appears to be disappointing. That swing from euphoria to worker strikes could do damage to the economy. The strong Euro has played a role in the slowing of the economy as well as throughout the Euro area. Sarkozy has his work cut out for him.
| French Orders | ||||||
|---|---|---|---|---|---|---|
| Saar exept m/m | Sep-07 | Aug-07 | Jul-07 | 3-mo | 6-mo | 12-mo |
| Total | -2.3% | -1.0% | 0.5% | -10.7% | 4.2% | 6.4% |
| Foreign | -3.1% | 0.5% | -1.2% | -14.5% | 2.1% | 5.5% |
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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