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| French Retail Sales Dip Over Past Month | |
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| Tweet Topic Started: Apr 6 2017, 10:07 AM (7 Views) | |
| Webster | Apr 6 2017, 10:07 AM Post #1 |
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Wasatch Storyteller & Resident Forum Curmudgeon
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(The Guardian) French retail sales dip --But it was a different story in France. With consumer spending flagging due to uncertainty created by the country’s forthcoming presidential election, Markit’s retail sales PMI dropped back into contraction territory in March. It fell from 51.7 in February to 49.4, signalling the first drop in like-for-like sales since November last year. Markit economist Alex Gill said: French retail sales eased slightly in March, thereby reversing the growth trend seen in the previous three months, as political uncertainty with regard to May’s presidential elections put downward pressure on consumer spending. Inflationary pressures may also be starting to erode consumers’ purchasing power. IHS Markit forecasts a 1.3% rise in consumer prices in the first quarter this year, markedly up from the level seen throughout 2016.
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