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Producer price French industry fell again in November (-0.2%), after falling 0.2% in October. This further decline following the continuous drop in prices of refined petroleum products, which shrank by 5.1% in November, following a decline of 6.7% in October. In one year, prices of refinery products yielded 14.9% “in the wake of the fall of crude oil prices,” says INSEE in a statement.
Food prices also continued to decline (-0.4% after -0.8% in October), with the exception of meat carried by “seasonal demand”. Other industrial products also saw their prices decrease again (-0.3% after -0.3% in October), due to lower prices of chemical industry (-2.1%).
In contrast, the energy prices and mining rose 1.7% in November, “supported by the transition to winter fare transportation electricity, “said INSEE. Import prices fell 0.8% after declining 0.7% in October. On all markets (including exports), the producer prices fell 0.2% in November and 1.7% year on year
Consumption. The textile up
Household consumer spending rebounded 0.4% in volume in November, a month after falling 0.8% in October, announced Tuesday the INSEE. This increase is primarily attributable to expenditures on clothing, up 2.4% after 3% in October, as well as energy costs, which increased slightly (+ 0.8%) after a sharp drop in October (- 6%). Manufactures consumer spending, however, are virtually unchanged, up 0.1% after 0.2% in October.
The recovery in household consumption of Energy due in particular to higher spending on gas and electricity. “Although temperatures were still mild in November, their difference (compared) to the seasonal average is less than in October, so that the heating needs increased compared to October,” says the INSEE. Conversely, fuel for household consumption expenditure fell in November and a year, the total energy costs were down 8.9%.
In November, spending on textile, clothing and leather , rose for the second consecutive month. In September they had reached their lowest level since October 2001. Spending on other manufactured goods accelerate slightly in November (+ 0.6% after 0.4% in October). This variation is mainly due to expenditures hardware-yourself, says Insee. The consumption of food is globally stable, while tobacco consumption decreases.
Spending on durables slow to 0.1% in November after 0.4% in October. Car purchases were down 1.2% against 0.3% in October, and housing capital spending is accelerating (+ 1.4% after + 0.9%).
INSEE also slightly revised upward its sales in October: consumption during this month decreased by 0.8% and not 0.9% as announced in the previous publication. This revision is attributable to the integration of new informations on indicators, particularly on housing equipment, as well as updating the correction coefficients of seasonal variations.
” Household consumption in volume progressing unless the purchasing power, the savings rate increases: it goes from 15.6% to 15.8% (revenues) in the third quarter, ” precise INSEE.
The investment of non-financial companies stagnated in the third quarter from the previous quarter, after falling 0.5% in the second quarter and 0.6% in first. He had risen 0.7% in the last three months of 2013. The margin of non-financial companies improved by 0.1 points to 29.5%. With the household and government sectors, total investment in France fell 0.6% after falling 0.8% in the second quarter.
The public debt of France was $ 2,031.5 billion at the end of the third quarter, up slightly from the previous quarter. Relative to national wealth, debt, measured according to the Maastricht criteria, 95.2% of gross domestic product, against 95.1% at the end of the second quarter.
During the third quarter, the public debt crude increased by 7.8 billion, significantly less than in the previous quarter, when it had risen by 28.7 billion euros. She was then taken for the first time the threshold of 2.000 billion euros. The increase in the third quarter is attributable to social security funds, whose contribution to the debt increased by 12 billion euros, said INSEE.
The main movement comes from the ACOSS, the organization that manages the cash of the general social security scheme, whose debt rose by 9.3 billion euros. That Unedic progresses further 1.3 billion and that of the Sinking Fund of the social debt (Cades) 800 million, details INSEE. The debt of local governments also increased slightly, from 500 million euros. Finally, the state fell by € 4.8 billion, increased its short-term debt (2.3 billion) being more than offset by the decline in the long term (-7600000000 ).
The French government believes that the public debt will reach 95.3% of GDP at the end of 2014, against 92.2% at the end of the previous year. It should then continue to rise to 97.2% at end-2015 and 98.0% in late 2016, before easing to 97.3% end of 2017.
The net public debt, which reflects the cash present in the coffers of the government, it was more sharply in the third quarter, 21.4 billion, due mainly to the decrease in cash from the state. She stood at 1,831.9 billion, or 85.8% of GDP (against 85.1% in the previous quarter – revised)
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