French Consumer Spending Declines in August, Missing Expectations

By William Horobin Features Dow Jones Newswires

French consumer spending was weaker than expected over the summer, statistics showed Friday, indicating that the eurozone's second-largest economy may be losing the momentum it built in the first half of the year.

Continue Reading Below

Consumer spending in the eurozone's second-largest economy fell 0.3% on month, national statistic agency Insee said. That was below the 0.1% expansion expected by economist polled by The Wall Street Journal.

Insee also revised July's consumer spending figure down slightly to a 0.6% on-month expansion, from 0.7% previously.

In August, French consumers spent less on food than in July, while growth in spending on clothes and home furnishings slowed sharply, Insee's figures showed.

Write to William Horobin at william.horobin@wsj.com

(END) Dow Jones Newswires

Continue Reading Below

September 29, 2017 03:12 ET (07:12 GMT)