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Wednesday, July 23, 2008

French Consumer Spending Falls In June

French consumer spending on manufactured goods fell in June. Household spending, which accounts for about 15 percent of the economy, fell 0.4 percent from May, when it rose a revised 1.7 percent, Insee, the national statistics office in Paris, said today.

Spending on French manufactured goods stagnated in the second quarter after expanding 0.1 percent in the first three months. Year on year, consumer spending growth slowed to 1 percent in June from a revised 2.8 percent in May. The May consumer-spending figure was revised down from a previously reported increase of 2 percent.

Spending on cars in France fell 3.8 percent in June from the previous month, and purchases of clothes and leather goods rose 0.6 percent, compared with a 4.4 percent increase in May. Spending on home appliances and furniture increased 0.8 percent.

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