French consumer spending rose slightly in November

National Institute of Statistics and Economic Studies (INSEE) said, in November 2019, household consumption expenditure on goods slowed down slightly (+0.1% in volume, after +0.2% in October). Economists had expected a 0.3% increase.

In November, food consumption fell sharply (-0.8% after +0.8%) due to the decline in tobacco consumption, due to the rise in prices this month, and the sharp decline in processed agri-food consumption. Energy consumption rebounded (+1.2% in November after -1.5%), due to the increase in gas and electricity consumption. Manufactured good consumption rose again (+0.5% in November after +0.5%). Purchases of durable goods slowed down (+0.6% after +1.1%). On the other hand, spending on clothing and textiles rebounded (+0.5% after -0.5%) and consumption of other manufactured goods increased again (+0.2% after +0.0%). In November, durable good expenditure slowed down but remained lifted by the consumption of transport equipment (+0.9% after +2.1%), particularly second-hand cars purchases. On the other hand, household durable goods consumption fell (-0.4% after +0.5%).