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French household consumption rebounds over cold snap in February

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French household consumption rebounds over cold snap in February

French household expenditure on goods rebounded in February after two consecutive months of declines, according to the National Institute of Statistics and Economic Studies.

In terms of volume, household consumption expenditure, excluding manufactured goods, rose 2.4% in February after a 1.9% decline in January. The recovery was mainly driven by an increased heating expenses. Energy consumption leaped by 8.9% in a colder February, following a 6.4% dive in a mild January.

Consumption of food products excluding tobacco rose 1.1% in February, while increasing 2.3% for refined products.

On an annual basis, household consumption expenditure on goods, excluding manufactured goods, jumped 1.9% in February. Spending on textile clothing fell 1.6% year on year while rising 2.1% for durable engineered goods.