French household expenditure on goods decreased by 1.7 percent month-on-month in September 2018, compared to an upwardly revised 1.1 percent rise in August and market expectations of a 0.4 percent drop. Consumption of manufactured goods fell sharply (-2.5% vs 2.7% in August), namely transport equipment (-7.9% vs 8.7%) on lower new car sales; household durables (-0.3% vs 0.5%); textile-clothing (-0.5% vs 0.1%) and other engineered goods (-0.1% vs 0.3%). Also, energy spending fell amid warm temperatures (-1.2% vs 0.4%), including gas and electricity consumption (-0.6% vs 0.2%) and refined products spending (-1.8% vs 0.7%). In addition, food consumption went down 0.9 percent, after falling 0.5 percent in August, particularly for agricultural products. Considering the third quarter of 2018, household consumption expenditure on goods recovered compared with the previous quarter (0.6% vs -0.3% in Q2). Year-on-year, household expenditure decreased 1.5 percent. Personal Spending in France averaged 0.12 percent from 1980 until 2018, reaching an all time high of 5.40 percent in June of 1995 and a record low of -5.60 percent in July of 1995.
Personal Spending in France is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Personal Spending in France to stand at 0.50 in 12 months time. In the long-term, the France Household Consumption MoM is projected to trend around 0.60 percent in 2020, according to our econometric models.
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