This reflects general globalization trends.
Growth in euro-land economies is starting to come through, particularly in the industrial sector. It looks to us as if there will be strong growth in the third and fourth quarter of around 1 percent.
Both [the French and the euro-zone data] reflect higher oil prices rather than any rise in underlying inflation.
Although weaker than expected, interpretation of the release is clouded by the unusual drop in food sales in August and, as is often the case, the MPC will be waiting for the next month's release to get a better picture of the underlying trend.