French consumer spending falls sharply

Source: Market Watch

 

PARIS–French consumer spending dropped sharply and for the second month in a row in January as mild weather reduced household demand for energy, statistics showed Wednesday.

Consumer spending in the eurozone’s second-largest economy fell 1.9% on month and on year in January, French statistics agency Insee said.

Economists polled by the Wall Street Journal had forecast a 0.1% rise on month and a 1.2% rise on year.

French household spending on energy fell 7.6% on month in January. Consumers also cut spending on clothing and cars, and overall spending on manufactured goods declined 0.8% on month.

Source :

Market Watch

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