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- French consumer spending drops 0.7% in October
French consumer spending drops 0.7% in October
French statistical office INSEE released its consumer spending data on Friday. French consumer spending slid 0.7% in October, after a 0.1% gain in September. It was the first drop since March.
The drop was mainly driven by a decline in purchases of durable goods. Spending on durable goods plunged by 1.8% in October, driven by lower car purchases.
Spending on food was flat in October, while spending on energy fell 1.1%.
On a yearly basis, consumer spending climbed 2.1% in October.
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