Financial and Business News

Surprising rise in consumer spending in France

French consumer spending of households grew by 0.3 percent in November, the largest increase in purchases of electronics and other equipment for the home, according to preliminary data of the national statistics office INSEE, published today. The market consensus expectations were for a drop in consumer spending of 0.1 percent of the French in November. The November data were revised to a fall of 0.5 percent instead initially reported drop of 0.4 percent.
Compared with November 2007, household spending on goods increased by 1.0 percent, according to INSEE. Consumption of manufactured goods in factories, represents one quarter of total household spending on goods and services. In retail sales excluding automobiles, spare parts and medical products, costs rose by 0.6 percent in November to decline by 0.5 percent in October. Consumer spending on durable goods - transport equipment housing - rose by 0.6 percent in November after a fall of 0.6 percent in October despite a continuing decline in purchases of cars during last month fell by 2.1 percent after a fall of 1.5 percent in October.

Labels: Financial News

posted by Zoritza Petrova @ 1:49 AM