In World Economy News 30/11/2016
French consumer spending increased at a faster-than-expected rate in October, after falling in the previous month, figures from the statistical office INSEE showed Tuesday.
Consumer spending rose 0.9 percent month-over-month in October, reversing a 0.4 percent drop in September. That was above the 0.2 percent climb expected by economists.
Energy consumption bounced back markedly by 3.6 percent in October, after a 1.8 percent decline in the prior month.
Purchases of engineered goods grew 0.7 percent over the month, driven by an increase in clothing expenditure. At the same time, spending on food products broadly stable in October.
On an annual basis, consumer spending climbed 1.5 percent in October, exceeding economists’ expectations for an increase of 1.0 percent.
Source: RTT
