Business cycle : the recovery becomes clearer

The recovery of the business cycle of the French Riviera is confirmed (turnover increasing by 5%). The sole negative figure : employment recovers slowly while precariousness becomes more and more serious.

Like what is happening in France, economy on the French Riviera has definitely recovered. This is what the president of the Chamber of Commerce and Industry, Francis Pérugini has reported, during the traditional press conference of business cycle.A recovery with some main features : consumption and tourism are at the top; the increase in the activity (+5%) only resulted in a stabilisation of employment. This is what the president of the CCI specified in the preamble. Here is the report.Consumption : the locomotive has started again. Since the beginning of the year the product of the VAT (Value-Added Tax) reaches 5.3 billion francs (5.2 billion last year for the same period), that is to say an increase by 2%. In this sense, August has been exceptional : 730 million francs collected, increasing by 17% compared to August 1998! Still, the situation is difficult for some business activities which work with local customers.Tourism : outstanding figures. Some figures in support of the season tourist balance sheet.- Highway traffic : an average of 61.400 vehicles per day in July on the A8 (67.000 in August) that is to say an increase by 8.8% for July.- Railway traffic : 3.1 million trips in the five main stations (+7.7% late June).- Crusades : this is the only statistic in decline : 199.500 passengers at September 20th as against 220.000last year for the same period. The reason : the Kosovo effect which calm north-American customers down.- Yachting : remarkable results with +17% of overnight stays in the port of Villefranche, +15% in Nice, +15% in Cannes and +5% in Golfe-Juan.- Airport : 5.9 million passengers on Nice Côte d'Azur late August 1999, an increase by 7.2%. As last year, the international traffic is at the top (+10%), the national traffic increases less (5.1%). To notice : over the three summer months, there have been as many foreign visitors as nationals (1.4 million antional passengers and 1.3 international passengers). The one which increase the most is Europe with some countries such as Finland (+56.8%), Austria (+53%) and Czech Republic (+49%).High tech : NTIC at the top. In the NICT (New Information and Communication Technologies) everything is alright : a turnover of some 10 billion francs generated in the first six months (+10%) and a predominant role of exports (58% of the global turnover and an increasing rate of 29%). There, employment starts benefiting from the growth : +3%, temporary employees excluded. The science of the living remain stable : 7 billion francs during the first six months Monaco excluded (+1%) and 7.500 employees.Employment : can improve. The situation is getting better but slowly. Late March 347.900 people were employed in the Alpes-Maritimes. Hardly 0.4% more compared to late March 1998. Temporary employment increase by 25%. Unemployment is in decline : under the level of 50.000 last June (12.6% that is to say more than the national average of 11.3% and less than P.A.C.A. which stays at 14.8%). But precariousness is getting very serious : 20.952 welfare payment beneficiaries late July that is to say an increase of 6.9% over one year.Business cycle : concerns and services in rise.Activity by activity, the balance is sheet is the following.Industry : more 5% of turnover during the first six months, but exports in decline while domestic demand is still high. Stagnation of aromatic products' industry, while the production of consumption goods is increasing.Business : turnovers have increased by 7% in the department over the first six months of the year.Services : after a satisfactory year 1998, they have kept on increasing (+7% in turnover for merchant services during the first six months). If transports increase less rapidly than the average, hostelry (+15%) and services to companies (+13%) are at the head.As a conclusion, president Francis Pérugini has said : "all the figures are good expect two of them : exports in decline and the increase of social precariousness."