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Financial News: French Consumer Spending Falls Unexpectedly In April

French Consumer Spending Falls Unexpectedly In April

05/30/2018 - 03:27:00 (RTTNews)

(RTTNews) - France's consumer spending declined unexpectedly in April, after rising in the previous two months, figures from the statistical office INSEE showed Wednesday.

Consumer spending dropped 1.5 percent month-over-month in April, reversing a 0.2 percent rise in March. Economists had expected the same 0.2 percent increase for the month.

Energy consumption fell sharply by 5.4 percent over the month and expenditure on food products dipped by 1.8 percent.

Meanwhile, purchases of engineered goods registered a moderate rise of 0.2 percent.

On a yearly basis, consumer spending went up 0.2 percent in April.

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