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French household spending eases in November

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French household spending eases in November

Growth in French household spending on goods slowed month over month to 0.1% in November from 0.2% in October, data from the country's National Institute of Statistics and Economic Studies showed.

On a monthly basis, energy consumption increased 1.2%, rebounding from a 1.5% decline in the prior month, as spending on gas and electricity increased. Meanwhile, falling tobacco and processed agri-food consumption contributed to a 0.8% decline in food expenditure, which rose by 0.8% in October.

Engineered goods consumption expanded 0.5%, the same as the previous month.

On an annual basis, consumer spending ticked up 0.2% in the month.

Including manufactured goods, monthly household spending was flat, after rising 0.3% in October. The consensus estimate of economists polled by Econoday was for the growth rate to remain unchanged at 0.3%. The figure increased 0.3% year over year in the month.