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 EN FRANCAIS

KEY INDICATORS Q1 2007 : industrial output index,company creations france & departments,consumer prices index metropole,the labor market metropole,  reasons for unemployment registrationbs metropole, job offers metropole,company bankruptcies france & departements, turnover indices export & local -metropole-

INDUSTRIAL OUTPUT INDEX - Q1 2007                                                                        

The overall industrial output index increased +1% compared with the previous quarter impacted by Intermediate Goods +1% production increase, the Automobile Industry +2.8% the Food and Agriculture Industry +1.7% and Consumer Goods +1.1% The Capital Goods output took a pause and only rose +0.4% similarly to the Energy production's quasi stable +0.1% Although first quarters perform rather well year on year, this first period heralds steady production momentums for the coming quarters due to the very sectors involved.

Source: Insee

Source: Insee

Out of CONSUMER GOODS, perfumes-pharmaceuticals and personal care products saw output increase +1.9% INTERMEDIATE GOODS strongest production increase +2.9% was recorded by the chemical products-rubber-plastic item. The textile output rescinded from previous improvements and declined -0.9% while wood-paper or card board products production dipped -1.4% The metal and metallic products output stayed nearly unchanged or +0.2% while the electric and electronic components output rose +2.2% as a direct result of CAPITAL GOODS' items strong performance: the boats-trains-planes-motorcycles production jump +3.1% while the electric-electronic equipment production, usually strong, fell -0.9% The mechanical equipment output stayed unchanged or +0.1%

Out of the ENERGY sector, the combustible and fuels output fell -3.8% due mostly to mild winter temperatures. The water-gas-electricity production index consequently only rose +0.8% In one year to March, the overall industrial output index performed positively and rose +1.2% impacted by Intermediate Goods +2.2% Capital Goods +2.4% and Consumer Goods +1.8% The Food and Agriculture Industry production index also grew +0.9% while the Automobile Industry output index stayed unchanged. The Energy sector saw output fall -3.6% on the same period, to the benefit of the oil bill.

Out of the Intermediate Goods sector the mineral products production index jumped +3.8% and metal-metallic products +5.4% By contrast, the wood-paper-cardboard products output index fell -1.3% despite Consumer Goods strong performance. The chemical products output index rose +0.9% while electric components stayed unchanged or +0.1%

The Capital Goods sector best performers included the boats-trains-planes-motorcycles +5.2% production index increase along with mechanical equipments' +4.3% The electric-electronic equipment output index by contrast did not follow suit and fell -1.2%

Consumer Goods' perfumes-pharmaceuticals and personal care products output index jumped +9.2%

COMPANY CREATIONS - FRANCE  & DEPARTMENTS- Q1 2007                                                               

Overall company creations rose +3.7% compared with the previous quarter to a total 26 752 new companies and increased +14.7% in one year to 294 621  In March alone, compnay creations rose +2.1% and the Construction sector's new entities grew the fastest +3.5% followed by Commerce +1.1% and Services to Individuals +2.7%  By contrast, new businesses in the Services to Companies group dipped -1.1% 

In Q1, new businesses in the Intermediate Goods sector and Real Estate increased each an impressive +15.1% as demand boosted each sector despite prohibitive prices as regards the latter. On the same period, the Food and Agriculture Industry new ventures rose +10.3% a sector reknown to weight heavily and positively on the balance of trade.

Transport new ventures grew +8.7% as lower oil prices encouraged new comers in a hectic sector while the Consumer Goods group new companies +6.2% reflected strong and sustained consumer demands for manufactured products, a positive signal for entrepreneurs.

Similarly, the Commerce sector saw new business increase +5.1% while to a lesser extent, Construction +2.1% increase translated postponements due to unusually cold temperatures in January impacting thus downwards creations in February. By contrast, new ventures in the Services to Companies sector slid -1.7% as a pause, similarly to Health-Education and Social Services -0.7% following a strong February month. The Capital Goods sector new businesses fell the hardest -4.2% due in great part to the Airbus crisis and massive lay offs plan involving staff as well as subcontractors. All sectors recorded strong company creation increases in March, on average +4% with the exception of the capital goods sector -9.6% dip. 

In one year to March, Capital Goods slow performance impacted negatively its yearly creation rate, -3.4% while all other sectors saw their respective new ventures rise significantly : the Food and Agriculture Industry new businesses skyrocketed +36.7% along with Intermediate Goods +36% and Transport +34.2%

The Consumer Goods sector new companies rose +22.2%, Commerce +18% Real Estate +18.7% and Construction +12% The Services to Companies new businesses rose an impressive +7% similarly to Health-Education and Social Services +7.4%

CONSUMER PRICES INDEX METROPOLE- Q1 2007                                                          

The overall consumer prices index stayed quasi unchanged in Q1 gaining a slight +0.2% as manufactured products -0.8% price index cut offset other components increases : the food price index stayed stable or +0.1% along with the tobacco price index while out of manufactured products, the clothing and shoes item price index fell a substantial -4.9% The energy price index remained unchanged and out of the services component, rent rose +0.8% while transport and communication stayed stable. In March alone however, the overall index had gained

Source: Insee

In one year however, the overall price index rose +1.2% impacted by the food and clothing and shoes components, gaining respectively +0.5% and +0.9% The energy price index stayed nearly unchanged +0.2% as oil products price index fell -2.8% On the same period and in Euro, crude oil prices fell -9.48% . Expressed in USD however, prices rose +7.64%  but stayed quasi stable in one year or -0.2% Out of the services price index, the rent index grew +3.1% while the transport and communication item fell -0.8%

THE LABOR MARKET  -METROPOLE - Q1 2007                                                          

According to provisional labor market figures (to be revised next fall by Insee) overall unemployment in Q1 stood at 2 312 000 million jobless or 8.4% of the working population and fell -2.4% compared with the previous quarter. Controversies emerged however in March when the European Office of Statistics, Eurostat, contradicted Insee and announced that French unemployment stood at 8.8% 

According to Insee’s records and in Q1, the over 50 age group jobless rate fell -3.1% to 372 000 unemployed but remain for the most part unaccounted for due to an official job search exemption due to their age. The 25 to 49 jobless rate declined -2.9% to 1 387 000 million unemployed, representing the largest jobless group. The under 25 saw unemployment fall -2.0% to 552 000 jobless, and still recorded the highest unemployment rate in Europe 21.4% for that age group.

Per gender, and on the same period, overall male unemployment fell -2.5% compared with the previous quarter while female’s declined - 2.8% but accounted for a larger group, respectively 1 138 000 million and 1 173 000 million. The under 25 age group inverted this pattern as young female unemployment fell -1.5% to 262 000 jobless and young male’s declined -2% to 291 000 unemployed. The over 50 female unemployment rate fell -3.7% to 182 000 jobless while male in that same age group saw unemployment decline -2.6% to 190 000 unemployed.

In one year, overall unemployment fell -11.4% to 2 281 000 million jobless and according to provisional jobless figures, the over 50 age group jobless rate fell the fastest -13.5% followed by the intermediate age bracket -13%. The under 25 age group declined -5.7% to 549 000 jobless.

Per gender and on the same period, female unemployment fell overall -12.1% compared with male’s -10.7% The young female unemployment rate followed its quarterly pattern and dipped -5.8% compared with -6.2% for young males. Out of the 25 to 49 age group unemployment fell -13.8% for females and -12.8% for males. The over 50 female jobless rate fell -14% while male’s fell -12.6%

Source: Insee 

Registrations for unemployment due to lay-offs increased +0.4% in Q1 as the month of January accounted for a record 17983 redundancies or + 21% against the previous month. By contrast, registrations due to the end of temporary jobs fell -2.5% as activities picked up and allowed for contract renewals. Similarly, registrations due to the end of short term contracts dipped -22.5% In one year, registrations due to lay-offs declined -11.8% while registrations for the end of temporary jobs grew +4% as several months recorded peaks (from July, registrations stayed on the increase up to March). Registrations due to the end of short term contracts fell -3.3%

Although overall job offers increased +12.7% to 330 367 offers in Q1, they remained dwarfed by unemployment figures expressed in millions. On the same period, long term offers (over six months and expressed in gross figures) jumped +9.3% while short term offers (under six months and in gross figures) skyrocketed +31.1% and stayed uncorrelated to the slight -2.5% decline for unemployment registrations specific to that criterion. Occasional job offers increased a slight +1.2%

In one year, the labor market stagnated: overall job offers jumped +26.8% but both long term offers and short term offers fell respectively -0.8% and -1.9% Occasional job offers rose +6.8% 

 COMPANY BANKRUPTCIES -FRANCE & DEPARTMENTS- Q1 2007                      

Overall company bankruptcies (expressed in gross figures) fell -12% in Q1 compared with the previous quarter and all sectors, with the exception of Real Estate, and the Food and Agriculture Industry, benefited from substantial improvement: the Consumer Goods sector took the lead and saw bankruptcies decrease -27.8% as January and February recorded few company liquidations, similarly to Capital Goods -21.1% 

Source: Insee 

Source: Insee

The Transport sector bankruptcy rate fell -18.8% as March recorded a drop in company insolvencies while Intermediate Goods betterment took place in January with a quaterly average down -15.7% The Commerce group liquidation rate declined -14.2% due to bankruptcies rescinding in each January and March especially as regards Car repairs (-11% alone in March). The Services to Individuals liquidation rate fell -12.9% and Construction -12.3% The Services to Companies sector insolvency rate decreased -5.8% By contrast, the Food and Agriculture Industry bankruptcy rates increased +7.9 and Real Estate's +4.2% as the month of February recorded a rise in insolvencies. 

Source: Insee

Source: Insee

In one year, overall company bankruptcies fell -16.6% and mirrored this quaterly performance with Real Estate and the Food and Agriculture Industry rates climbing respectively +10.9% and +22.7%  The Transport sector recorded the strongest insolvency rate decline -41.1 % followed by the Capital Goods and Intermediate Goods sectors respective insolvency rates rescinding -38.2% and -32.3% 

The Commerce liquidation rate fell -22.7% while Services to Companies declined -17.4% Services to Individuals -11.9% and Construction -11.8% The Consumer Goods sector recorded the lowest bankruptcy rate with liquidations falling -1.8%  

 INDUSTRY TURNOVER INDICES - METROPOLE- : LOCAL & EXPORT- Q1 2007                                     

While all industrial sectors export turnover indices regained strong momentum in Q1, locally, only two sectors recorded positive turnover indices: Capital Goods export turnover index increased the strongest +12% as a direct result of sales of 60 Airbus planes and two satellites on the same quaterly period, while by contrast, its local turnover index fell -4.1% Similarly, the Consumer Goods group export turnover index rose +3.2% due to strong sales abroad in January (+3.6%) and February while locally, its turnover index rose a slight +0.3% despite constant consumer demand. Inverserly, the Intermediate Goods sector local turnover index grew +3.1% as a vibrant construction sector kept internal demand sustained for construction equipment and metal-metalic products while its export turnoverindex stayed quasi stable or +0.2%   The Automobile Industry performed positively on both counts with its export turnover index +2.5% gain and +1.6% locally. The Food and Agriculture Industry export turnover index increased +2.1% but fell -0.4% locally.   

Source: Insee                            

Source: Insee                            

In one year to March, all sectors recorded positive export and local turnover indices with the exception of the Capital Goods sector +26.5% export turnover index increase (due mostly to the sale of a total 263 Airbus planes, eight satelites, one cruiseliner, two cargo ships) compared with -1.5% dip locally. The Automobile Industry export turnover index increased +6.9% and +4.4% locally followed by Intermediate Goods +5.6% export turnover index gain and impressive +11.2% local turnover index rise. Consumer Goods export turnover index rose +5% and locally +2.8% while the Food and Agriculture Industry export turnover index increase +4.1% was sligthly outperformed by its local +4.9% sales index. 

Source: Insee

Source: Insee

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