France’s household spending grew in January after a decline in the previous month, mainly driven by strong expenditure on energy, preliminary data from the statistical office INSEE showed on Thursday.
Household spending grew 1.2 percent from December, when it decreased 1.5 percent. Economists had forecast a 1.1 percent increase.
Spending on energy grew 5.4 percent following a 4.3 percent slump in December. Expenditure on engineered goods grew 1.4 percent after a 1.9 percent decline.
In contrast, food consumption decreased 0.9 percent after a 0.5 percent increase in December.
On a year-on-year basis, household spending grew 1 percent in January.
The material has been provided by InstaForex Company – www.instaforex.com