21 April 2006, 11:49  French household consumption fell by 0.6 pct in March

French household consumption of manufactured goods fell by 0.6 pct in March from February, a correction from the strong increases seen early in the year, but the decline was not as severe as expected by analysts. The consensus forecast compiled by AFX News had called for a 1.1 pct slide in consumer spending in March, after the 1.4 pct rise seen in February, which was revised downward from the 1.8 pct rise originally reported by statistics office Insee. The year-on-year increase in March was 3.5 pct, slightly below the 3.7 pct expected by analysts. For the first quarter as a whole, Insee said the rise in household spending remained "very positive," increasing by 3.3 pct from the same period last year. Spending in March was strongest for durable goods, up 2.0 pct on the month, but clothing and leather spending dropped 8.0 pct. This follows the surge in spending on clothes in January and February, coinciding with the winter sales across France.

© 1999-2024 Forex EuroClub
All rights reserved