RTTNews - French consumer spending decreased 0.2% month-on-month in May after a downwardly revised increase of 0.5% in April, statistical office INSEE said Tuesday. Meanwhile, economists' had forecast spending to rise 0.2%. On an annual basis, consumers spent 1.6% less in May.
In May, expenditure in durables grew 0.7% following an increase of 1.9% in April. Households spent 2.4% more on automobiles compared to April.
Consumption expenditure in textile-leather continued to decline in May with a 1.4% fall after a drop of 0.2% in April. Household consumption in other manufactured goods decreased 0.3%.
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