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Financial News: France Consumer Spending Growth Eases

France Consumer Spending Growth Eases

12/20/2019 - 04:45:00 (RTTNews)

(RTTNews) - France's consumer spending grew at a slower pace in November, the statistical office Insee reported Friday. At the same time, the decline in producer prices slowed in November.

Household consumption grew only 0.1 percent on month, slower than the 0.2 percent increase in October. Economists had forecast the growth rate to improve to 0.3 percent.

Consumption of manufactured goods climbed 0.5 percent and energy consumption rebounded 1.2 percent. Partially offsetting these increases, food purchases declined 0.8 percent.

In a separate communiqué, the statistical office said producer prices in domestic market declined 0.8 percent on a yearly basis in November, slower than the 1.3 percent drop in October.

Month-on-month, domestic producer prices advanced 1.1 percent, reversing a 0.2 percent drop in October.

In the overall market, producer prices grew 0.8 percent on month in November but fell 0.5 percent from same period last year.

Another report from Insee showed that Maastricht's debt reached EUR 2.41 trillion, up EUR 39.6 billion from the previous quarter. It accounted for 100.4 percent of gross domestic product, which was 0.9 points higher than last quarter.

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