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Financial News: French Consumer Spending Rebounds In July

French Consumer Spending Rebounds In July

08/29/2017 - 03:36:00 (RTTNews)

(RTTNews) - France's consumer spending increased in July after falling in the prior month, figures from the statistical office INSEE showed Tuesday.

Consumer spending climbed 0.7 percent month-over-month in July, reversing a 0.7 percent drop in June.

Consumption on engineered goods bounced back by 1.2 percent in July, following a 0.7 percent drop in the prior month. Similarly, total food consumption rose 0.8 percent after a 1.0 percent fall.

Meanwhile, energy consumption fell for the second straight month by 0.5 percent.

On a yearly basis, consumer spending grew 2.1 percent in July, above the 1.6 percent increase economists had expected.

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