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French consumer spending falls unexpectedly

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Staff Writer | August 31, 2016
French consumer spending dropped unexpectedly in July as households cut back on cars and home furnishing, statistics agency Insee said.
French private sector
France   The weakness in consumer spending
Consumer spending fell 0.2% in July from June. The weakness in consumer spending at the start of the third-quarter indicates the French economy lacks the momentum for a strong rebound after zero growth in the second quarter.

The data showed a 1.2% decline in spending on manufactured goods in July. Within the manufactured goods segment, spending on autos dropped 1.9% and home furnishings was down 3.1%.