Fri, Oct 22, 2021 @ 01:22 GMT
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France consumer spending rose 10.4% mom in May, close to pre-pandemic average

France consumer spending rose sharply by 10.4% mom in May, above expectation of 8.9% mom, more than enough to reverse -8.7% mom decline in April on return to lockdown. The rebound was mainly driven by manufactured goods purchases (+26.0%), with the reopening of all stores on May 19, and to a lesser extent by spending on energy (+2.6% after a stability), with the end of travel restrictions in early May. Food consumption was stable. Spending in May was at a level near to the average of Q4 2019, just down -0.3%.

Full release here.

Also released, CPI came in at 0.2% mom, 1.9% yoy in June, versus expectation of 0.2% mom, 1.8% yoy.

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