French consumer spending decreased in October, after remaining flat in the previous month, data released by the statistical office INSEE revealed Friday.
Household spending dropped 0.2 percent month-on-month, after a flat reading in September and a 0.7 percent slump in August. Economists had also expected a 0.2 percent decline.
Consumers' expenditure on food products declined 0.6 percent, down for a third straight month. Their spending on energy also shrunk. Spending on durables including automobiles rose during October.
Year-on-year, spending fell 0.5 percent in October, which was also in line with expectations.
by RTT Staff Writer
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