French consumer spending declined notably in October, after rebounding in the previous month, figures from the statistical office INSEE showed Wednesday.
Consumer spending dropped 1.9 percent month-over-month in October, reversing a 1.0 percent rise in September.
The decline in October was mainly due to energy and manufactured goods.
Energy consumption decreased sharply by 6.1 percent from September, when it grew by 3.3 percent.
Purchases of manufactured goods fell back by 1.7 percent in October, following three months of rises.
Food purchases contracted 0.3 percent after a sharp rebound of 0.8 percent in September.
On a yearly basis, consumer spending slid 0.6 percent in October, confounding economists’ forecast for an increase of 1.4 percent.
The material has been provided by InstaForex Company – www.instaforex.com
Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.
