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Business as usual after Paris attacks?

Monday, December 21, 2015 - 01:36

Business in Paris was hit badly after the terror attacks last month that claimed the 130 lives. But, as David Pollard reports, there's hope the deeper impact on French growth will only be temporary.

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Business as usual in central Paris. Only, not quite - the November attacks that killed 130 people still a raw memory. Even if shoppers are showing resilience. Taking the extra security in their stride. Pierre Pellarey manages Printemps department store. SOUNDBITE (French) GENERAL MANAGER OF PRINTEMPS DEPARTMENT STORE, PIERRE PELLAREY SAYING : "We were down around 30% in the first week - now it's about 10% down. So a slight rebound." The attacks will, it's predicted, shave 0.1 per cent off growth in Q4. Low energy production amid unseasonably warm weather likely to take another 0.1 per cent off. On the plus side, a low euro will help exports. And another vital sector. Jeremy Cook of World First (SOUNDBITE) (English) WORLD FIRST, CHIEF ECONOMIST, JEREMY COOK, SAYING: "It will be key to see whether the tourists come back. A lower euro-dollar, for example, is the best thing that could happen for Paris at the moment - get hordes of American tourists over to make sure the cafes, the bars, the restaurants and the theatres are still full." Dutch tourist Bert says he for one won't stay away. SOUNDBITE (English) DUTCH TOURIST, BERT KUNAT SAYING : "I love Paris ... And if there are attacks from terrorists, I don't care. It can happen everywhere, in England, in Holland, everywhere in the world so I am not scared." Overall, growth is seen at 0.2 per cent on the quarter, then back up to 0.4 per cent as household spending picks up again. For the year, the modest 1.1 per cent expected still a marker of the longer-term issues the French economy faces - if still the best reading since 2011.

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Business as usual after Paris attacks?

Monday, December 21, 2015 - 01:36