Construction: further decline in housing starts - October 27, 2009

Further decline in new housing construction. From July to September, the number of housing starts dropped to 68,710, or 36.2% less than a year earlier, according to figures from the Department of Ecology published mardi.Le number of building permits has also decreased from 23.2% to 83,763 units in the third quarter. Over the last 12 months (period from October 2008 to September 2009), the number of housing starts fell back from 21.1% to 293,315 units and the number of permits fell by 20% to 361,386 units.

"At level 11 years ago"

According to economist Michael Mouillart, "we'll go below the 300,000 housing starts for all of 2009, against 368,000 in 2008 and 435,000 in 2007, which brings us back to 1998 levels, there 11 years. The gouvrenement aims to build 500,000 new homes a year to try to meet strong demand."Housing starts should decline further in the first half of 2010, but the curve of the building permit listing a recovery for summer 2010. But it will take several quarters for this recovery is accelerating as long as state aid and tax incentives are maintained, "grade economist.

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Success of the plan starts at PSA -

French manufacturers are downsizing in France without redundancies. Since the beginning of the year 4 800 employees have left PSA Peugeot Citro?n as part of a voluntary separation scheme. The initial target of 3 550 people is far exceeded. A total of 5 200 employees have joined the scheme which also includes incentives for internal mobility, which runs until the end of the year. This plan will, however, extended until March 31 in some factories where quotas departures have not yet been achieved. Two similar shots in 2007 and 2008, had caused more than 7 000 starts, a figure much higher than previously forecast. In May, Renault announced the success of its voluntary redundancy plan, which had persuaded 4 400 people.

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Renault patina India -

The international expansion of the Renault looks more like a bad way bodywork than a highway. The manufacturer is mired in India and Russia, two markets where it had high hopes. They were supposed to offset sluggish sales of cars in Europe. In India, where he joined the Indian manufacturer Mahindra and Mahindra, Renault can not impose its Logan. It sold only 500 copies in September 1 750 cons last year at the same time. In the first six months of the year, it has passed only 2 900, more than three times less than in the first half of 2008 (9 200). This performance is particularly disappointing that the Indian market has regained its strength (+14.8% between April and September).

If the low-cost car is a hit among European car on a budget, it is not considered affordable by the Indian middle class.This model is "more expensive than what we expected in India," a market "extremely price sensitive, acknowledged Wednesday Carlos Ghosn, CEO of Renault-Nissan on the sidelines of the Tokyo Motor Show. If no answer is found, "we will launch a second car, probably with a different partner," he said before the Indian press.

Earlier last year, which it had dissociated Mahindra Renault-Nissan by withdrawing from the project to build a plant in Chennai (formerly Madras, in south-east of the peninsula). Nissan will build its first car in May 2010. But Renault, because of the crisis, for now frozen its production plans.

Another project to be delayed is the ultra low cost car (ULC called), in partnership with Indian manufacturer Bajaj.While the commercialization of this model was initially scheduled for early 2011, the definition phase of the "concept" drags on. "This project has been delayed, Renault did not put all means, says an internal source. It should be revived in post-crisis in late 2010 or early 2011 for a market that seems difficult before 2013. "

Clash of cultures

Renault still looking for "the proper positioning of the ULC" against the Tata Nano, that is to say "a little above or below" the cheapest car in the world, launched in July at a price of $ 2 500 (1 600 euros), says a close case. But the project also suffers from culture shock. On the one hand, Bajaj is a manufacturer of motorcycles and three-wheeled, used to a production of "frugal" but having no experience in the automobile.On the other, the French group tends to impose its methods "square" and its quality processes.

These difficulties in India in addition to those faced by Renault in Russia (see box). This is particularly disadvantageous for the group with the diamond he has not chosen to settle in another major emerging country, China has become the biggest car market in the world. It is also one who is spreading the fastest (up 42% since the beginning of the year).

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Photo credits: Le Figaro

Microsoft does better than expected -

Microsoft has announced its quarterly results Friday before the opening of Wall Street. The earnings decline yet, but at a slower pace than during the previous quarter.

In the last three months, net income back to $ 3.57 billion, down 18% yoy, against -29% previously. Revenues fell 14% to 12.92 billion dollars, against a decrease of 17% in the previous quarter. These figures include a deferral of sales related to Windows 7 to $ 1.47 billion, which had an impact of $ 0.12 per share. Reported equity, earnings totaled 40 cents under the 1st quarter of its fiscal year, or 52 cents before exceptional. These figures exceed the expectations of analysts on average expected earnings per share of 32 cents and revenues of 12.3 billion dollars.The group lowered its forecast for operating expenses to $ 26.2 billion against 26.5 billion previously.

"We are very pleased with our performance, particularly the strong consumer demand for the Windows operating system, whose latest version was released Thursday, said Chief Financial Officer Chris Liddell.

In preliminary award, the title climbed nearly 8%.

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Demand for new housing recovers slightly -

Slight upturn on the side of the building construction. Demand for new housing to purchase is recovering: it appears to – 28% in October, against – 37% in July, according to data from the National Institute of Statistics. It goes well above its long-time average, which includes data for January, April and July (-32%). In contrast, demand bends again to the homes for rental (-2% in October while the average since the beginning of the year is 22%). Entrepreneurs are less numerous than in July to provide a reduction in housing starts for homes (-6% in October). Conversely, for starts of dwellings intended solely for the rental prospects are more favorable (16% in October against 6% in July). Other good news: the stocks of unsold goods are lower in the third quarter versus the second quarter (-49% against -53% in July).Finally, according to proponents, the lower average price of new homes remained (-24% against -25%) and the personal contribution of candidates to purchase a new home is more important than July (-20% against -33%).

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