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Retail

French Consumer Spending Climbs In August As Shoppers Splurge In Sales

French consumer spending rose 2.3% in August, defying market expectations for a second straight month of falling expenditure, official data showed on Wednesday.

The average forecast in a Reuters poll of economists had been for a 0.2% fall in spending. Spending fell 0.9% in July.

Consumers spent €49 billion, the highest volume in more than a decade, the data showed.

The quicker pace was driven by an increase in food purchases and a surge in spending on clothing during delayed summer sales. Diesel and petrol consumption decreased on the previous month.

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

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