• French consumer spending rose slightly in November

Market news

20 December 2019

French consumer spending rose slightly in November

National Institute of Statistics and Economic Studies (INSEE) said, in November 2019, household consumption expenditure on goods slowed down slightly (+0.1% in volume, after +0.2% in October). Economists had expected a 0.3% increase.

In November, food consumption fell sharply (-0.8% after +0.8%) due to the decline in tobacco consumption, due to the rise in prices this month, and the sharp decline in processed agri-food consumption. Energy consumption rebounded (+1.2% in November after -1.5%), due to the increase in gas and electricity consumption. Manufactured good consumption rose again (+0.5% in November after +0.5%). Purchases of durable goods slowed down (+0.6% after +1.1%). On the other hand, spending on clothing and textiles rebounded (+0.5% after -0.5%) and consumption of other manufactured goods increased again (+0.2% after +0.0%). In November, durable good expenditure slowed down but remained lifted by the consumption of transport equipment (+0.9% after +2.1%), particularly second-hand cars purchases. On the other hand, household durable goods consumption fell (-0.4% after +0.5%).

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