• French consumer spending recovered slightly in October

Market news

29 November 2019

French consumer spending recovered slightly in October

According to the report from INSEE, in October 2019, household consumption expenditure on goods increased slightly by +0.2% in volume*, after –0.3 % in September. Energy consumption decreased (–1.5% after +0.2%) but manufactured good spending bounced back (+0.3% after –1.2%) and food product purchases accelerated (+0.8% after +0.6%).

In October, food consumption accelerated (+0.8% after +0.6%). In particular, the consumption of fresh fruits and vegetables was dynamic for the second consecutive month. The consumption of processed products also increased. Energy consumption decreased (–1.5% after +0.2%), particularly because of the decrease in gas and electricity consumption. Refined product consumption was also decreasing, especially gasoline and heating oil.

In October, manufactured good consumption straightened out slightly (+0.3% after –1.2%). In particular, durable good purchases bounced back (+1.0% after –2.2%). On the contrary, textile-clothing spending went down again (–0.5% after –0.8%) and other manufactured good comsumption decreased (–0.2% after +0.3%).

In October, durable good expenditure bounced back, driven by transport equipment consumption (+1.8% after –3.6%), especilally demonstration and second-hand cars. Expenditure on textile-clothing decreased slightly in October for the third consecutive month (–0.5% after –0.8%), despite an increase in textile consumption.

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