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French Consumer Spending Rebound Beats Estimates In February

Published on Apr 2 2018 9:14 AM in Retail tagged: Trending Posts / France / Consumer Spending / INSEE

French Consumer Spending Rebound Beats Estimates In February

French consumer spending rose 2.4 percent in February from January, bouncing back from a slump the previous month and increasing by more than expected, according to data released on Friday by the INSEE statistics agency.

A Reuters poll of 15 economists had forecast on average that spending rose 2.0 percent, with estimates ranging from 0.3 percent to 3.2 percent.

The increase, driven by a surge in spending on energy amid unseasonably cold weather, erased a drop of 1.9 percent the previous month. Food and clothing spending were also stronger.

Spending on manufactured goods, which excludes energy and food, rose by a more modest 1.0 percent from January, when it had decreased 1.2 percent.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: The European Supermarket Magazine. 

 

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