French Consumer Spending Rises Quicker Than Expected In September

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French consumer spending rose 2.3% month-on-month in September after falling 1% in August, data released by the statistical office showed Friday. That was the first increase in three months. Economists had forecast an increase of 0.5%.

In September, expenditures in durables increased 4.8% in September, of which cars sales dramatically renew with a 10.2% growth after a drop of 1.2% in August. Expenditures in textile exhibit the same profile, a 2.9% growth in September after a 3.8% decline in the previous month.

On an annual basis, households total spending grew 1% in September versus a fall of 1.3% in August.

The statistical agency also said consumer spending decreased 0.2% in the third quarter compared to the second quarter, when spending fell 0.7%.

French consumer spending rose 2.3% month-on-month in September after falling 1% in August, data released by the statistical office showed Friday. That was the first increase in three months. Economists had forecast an increase of 0.5%. (Market News Provided by RTTNews)