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European Economic News

French Consumer Spending Rebounds Less Than Expected In April

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

France's household consumption grew less-than-expected in April after a slump in March, amid weaker spending on durables, figures from the statistical office INSEE showed Friday.

Household consumption edged up 0.1 percent from March, when it declined 0.7 percent, which was the biggest fall since January 2014. Economists had forecast 0.4 percent growth.

Consumption of food grew 0.4 percent, rising for a second straight month. Spending on automobiles barely grew with a modest 0.1 percent gain, while expenditure on household durables declined 0.2 percent for a second straight month.

Energy consumption also fell for a second consecutive month, down 0.3 percent. Spending on manufactured goods grew 0.3 percent.

Year-on-year, household consumption rose 2 percent in April, which was also less than the 2.4 percent gain economists had predicted.

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