On 18^th August 2008, the French Prime Minister, François Fillon declared on national television that France is not in recession. Despite an economic output that recently reduced by 0.3% and an ever decreasing purchasing power among the general population, the French are not willing to submit to the economic depression that is hovering over the global consumer market particularly in the US and the U.K. We may wonder if this stance is linked to the ever robust luxury industry, which remains one of France's top four economic contributors and a key employer. 

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