By France’s household spending rebounded in February, but the growth was less than expected, preliminary data from the statistical office INSEE showed Thursday. Household spending increased 0.8 percent month-on-month following a revised 2.0 percent fall in January. Economists had expected a 1.2 percent increase. INSEE said the latest increase was driven by the clear rebound in manufactured goods consumption that rose 2.2 percent monthly in February after a 2.9 percent slump in January.
The rebound in manufactured goods was primarily led the strong recovery in consumption in clothing and textiles.
Food consumption decreased at a slower pace of 0.2 percent versus 1.5 percent in the previous month. Energy consumption also fell at a slower pace of 0.3 percent compared to 1.2 percent in January. On a year-on-year basis, household consumption decreased 2.3 percent in February.
