Economic conditions in the department: slow down

During the first three months 2001, consumption (+ 6.1%) balanced the fall of exports (- 5%). Of course, activity increases (+ 4% for turnover), but there are bad figures.

Economy of the French Riviera follows the rhythm of international economic conditions: it slows down. That is what is shown by the balance sheet of the first three months 2001 done by the CCI with the Bank of France. Export activities have been hit by a 5% global fall of exports in the department. However there are important divergences according to fields. Thus, for telecom, in international crisis and particularly in the United-States, the fall of exports is 9% while the aromatic industry, the pole in Grasse, keeps on exporting (+ 3%).In overall, activity has increased (+ 4% for the first three months compared to the same period in 2000) thanks to consumption (+ 6.1% over the first thee months of the year). Employment is well. But figures are those of the last three months 2000: 375.000 occupations in the Alpes-Maritimes late December 2000 – a record – with an unemployment rate which keeps on decreasing to 10.7% (on the other hand, this rate remains higher than the national average of 9.2%). Social plans during the beginning of the year (Kast Telecom, Health Center, Lucent…) and the fall of several start-ups (VistaPrint, Wwwhoosh, Vista, etc.) could slow down, or even reverse the tendency this year.When you compare different geographical areas you see that occupation basins linked to exports have less performed than others. The Var plain with a little link to exports has increased the most (+ 7% in turnover and + 6.5% in occupations).on the other hand, Cannes ranks last (- 10% for exports, + 1% of turnover and + 2% for employment). As for Antibes Sophia, it is in the average (- 7% for exports, + 4% of turnover and + 3.5% for employment). During the second quarter 2001, consumption (+ 11% in April) should keep on being the driving force of the economic activity.