Tue, 07 Aug 2012 16:32:10 GMT
European consumers spent less in the second quarter
As European governments are
implementing austerity measures in order to curb the debt crisis, consumers are reining
in spending as well. Consumers in France spent 0.2 per cent less during the second
quarter. Meanwhile, consumer confidence in the Eurozone reached three-year low
in August. Moreover, companies included in the European Stoxx 600 Index reported lower quarterly earnings and overall consumer spending on services and