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To: yard_man who wrote (173072)	6/16/2002 9:05:30 AM
From: Haim R. Branisteanu	Respond to of 436258

06/16 05:02 French, Italian Shoppers May Scale Back Spending, Analysts Say By Katrin Bennhold Paris, June 16 (Bloomberg) -- French shoppers probably cut spending for the first time in four months while Italians remained more pessimistic than they have been since the end of 2000, threatening Europe's economic recovery, analysts said. French consumer spending dropped 0.3 percent in May after rising 0.8 percent a month earlier, economists surveyed by Bloomberg News said. Italy's consumer confidence index in June probably stayed close to May's 18-month low. Household spending accounts for more than half of Europe's economy. With unemployment rising, declining purchasing power may hamper the recovery from last year's slowdown. Analysts expect Club Mediterranee SA, Europe's largest resort operator, to post a net loss in the six months leading up to April. quote.bloomberg.com