Leather boosts French consumer spending
22/07/2009
Leathergoods and footwear sales rose by 3.6% in France in June compared to May, helping the French economy show an overall rise of 1.4% for the month.
This figure, reported by Insee, the national statistical office, was considerably higher than expectations and has led to speculation that the economic downturn in Europe's second-biggest economy may have bottomed out.
Sales of clothing, shoes and leather accessories showed the biggest rise, up by 3.6 per cent compared with May, while household durable goods also proved popular, with sales rising by 3 per cent.
Finance minister, Christine Lagarde, said: “We are in the process of seeing the decline begin to stabilise.”
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