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Three cheers for the world cup!

by Colman Wed Jun 7th, 2006 at 09:38:15 AM EST

The tired old European economy is showing signs of life and the World Cup is expected to have it moving around unassisted in no time:

Growth in retail sales in the euro zone hit its fastest pace in more than two years in May, boosted by strong expansion in Germany, according to a survey of retail purchasing managers published today.

The Bloomberg/NTC euro zone retail PMI rose in May to 56.3 from 54.6 a month earlier, the highest since the survey began in January 2004.

Readings above 50 indicate expansion in the sector while figures below that mark indicate contraction.

The retail PMI for Germany, which accounts for nearly a third of the 12-nation euro area's gross domestic product (GDP), rose to 60.4 to from 59.3 in April.

This was also the highest reading since January 2004, the survey showed. Germany hosts the World Cup between June 9th and July 9th, and economists have forecast the economy will receive a substantial boost from the tournament.

Soccer fans from around the world have begun arriving in Germany, and research firm NTC said the World Cup had helped to boost retail sales in May in Europe's largest economy.

The euro zone poll questioned more than 1,000 retailers in Germany, France and Italy. The three countries account for around 75 percent of the euro zone's retail trade.

In France, the retail PMI climbed in May to 56.9 from 55.2 in April, with the gauge advancing in Italy to 49.3 from 46.8. (Ireland.com)

by Colman (colman at eurotrib.com) on Wed Jun 7th, 2006 at 09:40:18 AM EST
June is boosting out all over!!!
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jun 7th, 2006 at 09:58:17 AM EST
Stand by for the doom and gloom articles about the "hangover" in retail after the World Cup. It's cyclical, you see...
by Metatone (metatone [a|t] gmail (dot) com) on Wed Jun 7th, 2006 at 10:48:27 AM EST
That's great that something is moving there in Europe...
No matter what...hangover...here in a new world we are still spending like we are drank, based on constant good news about economy...we'll see what will happen later.
These kinds of sports events are really good to boost spending because the atmosphere is that of a holiday (when we all spend carelessly)...Well there is only one life so let's enjoy it, ha-ha. I can't wait to come and visit good old Europe in 2008.I plan to visit UK, Sweden, to drive trough so many other countries on my way to Serbia. I haven't visited for a while ...some even for 20-30 years, except for airports, ha-ha, (time just flows madly).I want to see what have changed...You go guys!!!

Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Wed Jun 7th, 2006 at 07:36:59 PM EST

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