Consumer spending in France experienced a recovery in November, fueled by increased expenditures on engineered goods and food, according to data released by the statistical office INSEE on Friday. There was an unexpected 0.3 percent increase in household consumption on a month-to-month basis, compensating for the revised 0.3 percent decline in October. Analysts had anticipated a modest 0.1 percent uptick in spending.
The growth was primarily attributed to a 0.9 percent rise in spending on engineered goods, along with a 0.3 percent increase in food consumption.
Conversely, energy consumption dipped for the third consecutive month, declining by 0.8 percent. This was primarily due to the fact that the rise in gas consumption was insufficient to counterbalance the continued reduction in electricity usage.
