French Consumer Spending Rises Most Since February 2012

(RTTNews) - French consumer spending recovered strongly at the fastest pace since February 2012, data from the statistical office Insee showed Tuesday.

Household expenditure on goods grew 1.4 percent month-on-month in November, reversing the 0.1 percent fall logged in October, and exceeded the expectations for a 0.4 percent rise.

This was the biggest increase since February 2012, when it rose 2.8 percent.

Purchases on clothing, textile and leather bounced back 3.3 percent after easing 0.4 percent in October. Consumption expenditure on other engineered goods rose only 0.1 percent in November.

Meanwhile, household expenditure on durables was down 0.3 percent, following a 1.1 percent rise in October. This was attributable to a decrease in car purchases.

On a yearly basis, consumer spending advanced 1.5 percent in November, which was also faster than the expected growth of 0.5 percent.