On the same quarterly period, total IMPORTS grew at a slighter pace +2% 37.72bn but jumped +7.7% impacted by refined oil products +15% increase nearing USD 200mn.

In November, the oil bill had already worsened the deficit € -4.792bn (a cumulative € -37.967bn in one year compared with € -26bn in Q3) Total IMPORTS rose +1% and +8.4% to € 38.096bn with energy imports reaching record levels + € 500mn in two months. Total EXPORTS fell -1% in three months and increased +2.9% in one year to € 33.304bn

December saw total EXPORTS dip -2.1% in three months and rise a modest +2.1% in one year to € 33.126bn (€ 33.304bn last month) On the same period, Total IMPORTS grew +0.6% but jumped +7% to € 37.405bn. Energy imports alone totaled € 6.4bn compared with € 5.4bn in September.

Source: Eurostat

Extra EU27 trade balance first estimate for December 2007 was a deficit €-17.9 bn compared with -10.1 bn a year ago. In December 2007, the deficit widened to €-16.8 bn , (compared with €-12.3 bn in December 2006)

Household consumption of manufactured products picked up in December ending the quarter on a positive note despite consumers concerns over lower savings capacity. In October, household consumption fell -1.1% with retail sales dipping -1.2% and durables goods -2.3% Household equipment sales dived -3.6% car sales declined -1.1% and textile-leather purchases fell -2% Other manufactured products rose a mild +0.3% In November, household consumption of manufactured products stayed stable or 0.1% as durables goods sales had rebounded +3.6% and despite retail sales -0.7 dip. Sales of household equipment surged +4.3 and car sales +3.4% while textile-leather purchases dipped further -4% In December,Household consumption rose +2% pushed up by durables goods sales jumping +3.8% as car sales increased +5.8% and household equipment +1.7% Sales of textile-leather rebounded +2.5% and sales of other manufactured products grew +0.4% Sales out of the Commerce sector rose +1.5%

In Q4 and compared with Q3 however, household consumption slowed down to +1.9% (compared with +4% ) On the same period, sales of textile and leather fell -3.2% (against +2.6% in Q3). Similarly, sales of other manufactured products declined -0.4% preceded by a stable previous quarter. In one year, household consumption of manufactured products grew +3.9% with retail sales climbing +3% Sales of durables goods increased +11.6% impacted by car sales +12.3% increase and household equipment +12% Textile-leather purchases declined -0.8% and other manufactured products rose a modest +0.6%

Decreases were recorded by the Food and Agriculture Industry -7.3% dip. The Services to Companies group saw new entities fall -3.8% Real Estate -2.8% and Consumer Goods -2.4% Services to Individuals also recorded negative figures, -1.5% along with Commerce -0.8% In December, a total 28 841 new businesses were recorded (a cumulative 350 308 new entities since January) although company formations declined -1.1% compared with the previous quarter to 28003 new businesses as some sectors slowed down. Best performers in December included Services to Companies new businesses +15.8% increase (6587 new companies) , Capital Goods +13.8% surge (272 new companies) Commerce +4.8% (7002 new companies)and Consumer Goods +4.3% rebounds (557 new businesses), along with Real Estate +3.1% (1648 new companies) following the previous month -2.8% dip. 

Decreases in company formations involved Transports -9.4% gap, (688 compared with 759 new companies) the Food and Agriculture Industry -7.5% fall (321 compared with 347) and, for the second consecutive month. New companies out of the Intermediate Goods group fell -2.9% (to 272 from 239 new companies) and to a much lesser extent Construction -0.3%. (to 4916 from 4929 new companies). By contrast new businesses in the Services to Individuals sector increased +1.5% (3708 new entities) and Education-Health Social Services +1.3% (2254 new businesses) In one year, although all sectors recorded significant company formation increases, the strongest rise were recorded by B2B groups: Capital Goods new entities jumped +22% Education-Health-Social Services +18.9% and Services to Companies +18.4%. Similarly, strong company formations included Commerce +13.6% Construction +13.3% and Transport +13.2% In addition, new entities out of the Intermediate Goods sector rose +9% and Consumer Goods +5.5% Services to Individuals new businesses grew +8% , a modest figure compared with previous months, and Real Estate a slight +0.5% due to the sub prime context.

The CONSUMER PRICES INDEX recorded the steepest increases throughout the quarter, impacted by each food and energy products. In October, prices increased +0.5% taking the yearly inflation rate to 2% (Metropole only +0.3% and 1.6% respectively) The food component +0.6% gain along with energy +0.7% along with services sent then index to record levels. Out of the food index, the vegetables price index jumped +1.9% dairy and eggs increased +0.7% and oil and fats +0.8% The fish and seafood prices index fell a slight -0.3% Out of Manufactured products, the clothing and shoes component rose +0.6% while health products and other manufactured products remained stable offsetting a higher component price trend. The rent index, (including garbage removal and water distribution services), gained +0.7%.

In November, the index recorded another +0.5% increase impacting the yearling inflation rate to its steepest +2.4% in one year. (Metropole only +0.3% and 1.7% respectively) As in October, food and energy recorded the strongest increases, +0.7% and +4.1% Oil products prices jumped +6.7% Manufactured products prices stayed quasi stable or +0.2% along with services. In three months, prices rose substantially: out of the food component, the vegetables price index jumped +6.1% , and clothing +4.8% The combustibles prices index skyrocketed +20.6%, car leasing +3.1% In December, the index +0.4% gain pushed inflation higher, +2.6% (+2.4% in November) (Metropole only excluding Overseas Departments and Territories DOM-TOM +0.2% and +1.8% respectively) and, compared with the previous month, the food index recorded the steepest increase +0.6% followed by energy +0.5% and Services +0.4% Similarly and in three months, the food index jumped +1.8% energy +1.4% and Services +0.6% due to rent +1.5% gain. In one year, the most substantial increases were recorded by the food index inflationary +3.1% increase impacted by fresh produce +3.4% and excluding fresh produce +3% The Tobacco prices index jumped +6.2% Manufactured products prices index stayed modest by comparison +0.4% with health products prices declining -1.4% Energy prices skyrocketed +10.6% due to oil products prices +17.1% gain. The Services prices index rose +2.4% (Metropole only +2.6%) as rent-water-garbage removal prices increased +3.4% The Health Services prices index increased +1.8%

RAW MATERIALS IMPORTED in France and expressed in Euro recorded some substantial price cuts but recorded inflationary trends when expressed n currency due to weak dollar. In October, the index for both foodstuff and industrial products increased +3.3% in currency compared with the previous month and jumped +14.20% in one year due to a low exchange rate rendering costs higher in dollar terms. In Euro, the index rose at much tamer rates, respectively +1.3% and +2.9% The Imported foodstuff index expressed in currency rose +3.3% impacted by tropical food +2% gain, oil seeds +4.3% and cereals +0.8% In one year , month on month oil seeds price index skyrocketed +95.6% tropical food +29.9% and cereals +9.9% In Euros, the food index jumped +45.7% with oil seeds +87.2% mirroring prices expressed in currency due to demand. By contrast the cereals price index fell -2.5% despite short supplies, and tropical food rose +15%

In November, RAW MATERIALS Prices for both foodstuff and industrial products imported in FRANCE fell -4.5% in Euro and a slighter -1.9% in currency impacted downwards by minerals and agro-industrial products. In one year month on month, prices jumped +11.8% in currency due to a weak dollar but stayed quasi stable or -0.1% in Euro. In Euro, and compared with last month, the index component strongest price cut was recorded by industrial products non ferrous metals -9.6% and steel -3.1% while precious metals only rose +2.1%. Tropical woods and coniferous trees sawn timbers prices also declined -3.1% and -5.2% Out of the food products index, sugar and tobacco recorded substantial price cuts as well, respectively -4.1% and -3.3% Tropical food prices fell -0.7% oil seeds rose +2.7% and cereals a mild +0.4%

In currency, and on the same period, the steel prices index remained unchanged, non ferrous metals fell -6.7% while precious metals prices increased +5.1% pushed up by a weak dollar and stronger demand. The sugar prices index declined -1% and tobacco -0.2% but cereals, oil seeds and tropical food prices performed inversely to the index expressed in Euro climbing respectively +3.5% +4.8% and +2.4% Crude oil prices increased in currency +11.6% in currency and +8.1% in Euro while heating oil jumped +14.4% in currency and +10.8% in Euro. In one year, and due to a weak dollar in addition to sustained world demand, prices expressed in currency reached inflationary levels: crude oil prices per barrel in currency soared +57.6% and +38.5% in Euro. Heating oil prices followed a similar trend +52.9% in currency and +34.4% in Euro. Food products prices rose +57.3% in currency compared with +45% in Euro. Industrial products fell a mild -1% in currency but dipped -12.9% in Euro while agro-industrial products jumped +12.6% in currency but only rose +0.4% in Euro. Mineral products mirrored this overall trend and declined -4.4% in currency compared with -16.2% in Euro. December saw prices expressed in Euro fall -0.8% in Euro and a more substantial -1.3% in currency, but a weak dollar sent prices to inflationary levels in one year +9.9% In Euro, prices rose +1% On the same period crude oil prices jumped +46.6% and +33.1% in Euro.

In Euro and compared with last month, the strongest gains were recorded by food products : the sugar price index rose +6.5% tropical food products +4.1% oil seeds +4.8% and cereals +5.3% Tobacco price index gained a mild +0.9% by comparison Out of industrial products, the natural rubber price index rose +6.8% steel and tropical wood each +0.9% but coniferous trees sawn timbers regained +4.2% following November -3.1% decline. Precious metals only rose +0.4%  In currency and on the same period, the index did not quite mirror Euro prices although food products recorded the strongest gains: tropical food products +3.2% oil seeds +6.5% cereals +4.3% and sugar +5.6% The Tobacco price index stayed stable. Out of industrial products, non ferrous metal prices index dipped -7.2% and precious metal prices fell -0.3%. In one year, prices jumped in currency : heating oil +50.5% food products +63.6% agro-industrial products +13.2%. Industrial products fell -5.3% with mineral products -9.9% dip. In Euro, food products also recorded substantial gains, +52.5% but industrial products fell -13.9% while agro-industrial products prices rose +3.9% with mineral products declining massive -18.4%

FARM PRODUCTS PRICES OCTober 2007: FARM PRODUCTS PRODUCER prices in FRANCE fell -1.5% compared with the previous month (+6.2% in September) but increased +15.9% in one year, according to Insee. Most grains producer price indices decline resulted from satisfactory local wheat harvesting in quality and volume: the ONIC survey reported that  over 32 million tons of wheat were harvested, well above internal demand. A total 20 million tons of wheat are of superior quality (four million tons of soft wheat are graded E and 1 ) and 16 million tons are graded 1. Another 5.5 million tons are graded 3 for animal feed with a high level of proteins. Thus, the cereals prices index decreased -9.3% soft wheat -11.8% and corn -12.3%-- In one year however, Insee figures show that farm producer prices remain inflated by sustained world demand : cereals gained +61% with the soft wheat price index jumping +58.6% barley +76.7% and oil seeds +54.4%

France’s overall order books index ended the year, -2% in December compared with the previous month and momentum gained in the previous quarter rescinded.

In the Euro area, all countries, except the Netherlands +2.6% order books gain in December compared with November, recorded a similar downwards trend taking the region’s index to dip -3.6% The EU 27 index fell by half as six member states showed positive order books: Latvia +23.2%, Poland +11.3% Romania +6.9% Slovakia +3.7% Lithuania +4.6% and Estonia +3%.The biggest order book dip was recorded by Bulgaria’s 14% Per sector and in the Euro area, the transport and equipment order book dived -10%basic metals and fabricated metal products -4% and textile-textile products -1.7% Machinery and equipment order books fell -1.7% while electrical-electronic equipment rose +1.6% 

In one year to December, FRANCE’s order books index fell -3.1% inversely to the Euro area’s +2.1% increase. Germany’s rose +6.9%. Per industrial sector, and in the same region, the machinery and equipment order books index increased the fastest +6.5% followed by electric and electronic equipment +4.3% chemicals and chemical products +2.8% The basic metals and fabricated metal products index +1.5%while transport equipment -1.5%

Turnover indices slowed down in Q4 compared with the two previous quarters but Capital Goods and Intermediate Goods maintained performance as regards export turnovers, climbing respectively +5.6% and +0.9% On the same period, the Automobile Industry export turnover index rose +1.1% similarly to the previous quarter unlike Consumer Goods which declined -0.7% the Food and Agriculture Industry export turnover stayed unchanged.