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France Consumer Spending Declines In October As Expected

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.

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