Improving Sprits Sales Suggest Developed Market Recovery Is In Sight

Three of Europe's largest spirits producers have posted strong results for their latest financial quarters, indicating that global demand for luxury products is gradually returning. Diageo, Pernod Ricard and Rémy Cointreau were all boosted by rising demand in emerging markets, while in the difficult markets of Western Europe and North America there were signs that the sector may have turned a corner and could look forward to stronger growth going into 2011. A large part of this growth can be attributed to base effects and we are still cautious about the impact of fiscal austerity measures on consumer spending over

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