French Household Spending Drops In November

(RTTNews) - France's household spending declined in November on sharp downturn in energy consumption, the statistical office INSEE said on Friday.

Household consumption fell 0.3 percent in November, partially offsetting the 0.5 percent increase in October. Spending was expected to drop 0.1 percent.

Household energy expenditure fell back sharply as a payback to the previous month. Energy spending was down 2.0 percent, in contrast to the 1.5 percent rise in October.

Conversely, household consumption of engineered goods grew at a faster pace of 0.4 percent after a 0.1 percent gain in October, driven by a further rise in spending on durable goods.

On the other hand, food consumption decreased 0.2 percent after October's 0.3 percent increase.