New figures from France, Germany and Italy -- the three biggest economies in the 12-country Eurozone- suggest the continent’s economic woes may have been exaggerated. In France, evidence emerged that consumer spending remained solid in July and August, rising 1.4% and 0.6% respectively. Forecasters had generally expected the July figure to show a 0.1% slippage, with August unchanged. But the figures were flattered slightly by a down grade to the June figure, to 0.7% from 1.5%.
With manufacturing in the doldrums across Europe and the U. S. , consumer spending has been increasingly seen as the best hope of stopping the global economic slowdown from turning into a recession. The French government said the news proved that the economy was holding up to the strain of the slowdown.
Meanwhile in Germany, new regional price figures went someway towards calming fears about inflation in Europe’s largest economy -- a key reason for the European Central Ban
A. The reason for the ECB's unwillingness to cut interest rates is that inflation was actually expected to fall in Germany.
B. In Germany consumer prices were falling.
C. Last year's oil prices dropping out of the year-on-year calculation directly leads to the drop of inflation.
D. The European Central Bank is willing to cut interest rat
New figures from France, Germany and Italy -- the three biggest economies in the 12-country Eurozone- suggest the continent’s economic woes may have been exaggerated. In France, evidence emerged that consumer spending remained solid in July and August, rising 1.4% and 0.6% respectively. Forecasters had generally expected the July figure to show a 0.1% slippage, with August unchanged. But the figures were flattered slightly by a down grade to the June figure, to 0.7% from 1.5%.
With manufacturing in the doldrums across Europe and the U. S. , consumer spending has been increasingly seen as the best hope of stopping the global economic slowdown from turning into a recession. The French government said the news proved that the economy was holding up to the strain of the slowdown.
Meanwhile in Germany, new regional price figures went someway towards calming fears about inflation in Europe’s largest economy -- a key reason for the European Central Ban
A. the attacks on U. S. targets lead to the comparatively lower growth
B. the growth had been well short of the government's target
C. the budget deficit must be about 1.5%
D. the budget deficit will probably be greatly different from the country's promise
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