Paris, Nov. 2 (Bloomberg) -- French new car sales jumped a
calendar-adjusted 13.6 percent in October from a year earlier, a
further sign that consumer spending is driving economic growth in
Europe's No. 2 economy. General Motors Corp. and PSA Peugeot Citroen
paced the advance.
French customers registered 188,892 new cars last month, up from
174,210 a year earlier. October had 21 working days, one less than last
year, the French car manufacturers association CCFA said. Automobile
sales are up a calendar-adjusted 11 percent since the start of the
year, at 1.78 million units.
France's economy is rebounding after slowing early this year. CCFA said
last month it expects new-car sales to exceed 2.1 million units in
1999, a gain of at least 8 percent.
GM Europe fared best among major carmakers, posting a 24.4 percent leap
in October sales. It registered 14,404 cars in France last month, up
from 11,577 a year ago.
France's two carmakers had contrasting fortunes. Sales at PSA Peugeot
Citroen soared 20.6 percent, to 58,972, helped in part by the continued
success of its 206 small car. Renault SA saw registrations slip 1.4
percent, to 50,859 units.
The International Monetary Fund predicted last week that French growth
will accelerate to 3 percent in 2000, from 2.5 percent in 1999.
Business confidence reached its highest level in almost five years in