French consumer spending climbs in August as shoppers splurge in sales
- 30 Sep 2020
French consumer spending rose 2.3% in August, defying market expectations for a second straight month of falling expenditure, official data showed on Wednesday.
The average forecast in a Reuters poll of economists had been for a 0.2% fall in spending. Spending fell 0.9% in July.
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Consumers spent 49 billion euros, the highest volume in more than a decade, the data showed.
The quicker pace was driven by an increase in food purchases and a surge in spending on clothing during delayed summer sales. Diesel and petrol consumption decreased on the previous month.
Reuters