24 April 2001, 15:43  FRENCH MARCH CONSUMER SPENDING STRONGER THAN EXPECTED

at +1.3% m/m and February results were revised up sharply on higher clothing sales, reducing the decline on the month to 0.1% from -0.9% reported initially, bringing 1Q spending +2.3%, after +0.4% in 4Q. The preliminary results support the outlook for robust private consumption as a cushion to business confidence facing slacker foreign demand. Finance Minister Laurent Fabius called the results "excellent" and said there is much cause for confidence about domestic growth, expected at around 3% this year.

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