France Household Spending Falls Beyond Expected

Household consumption of goods in France declined by 0.5% month-on-month in April 2026, exceeding market estimates for just a 0.1% fall and reversing a 0.9% increase in the previous month. Energy expenditures (-2.9% vs 0.5% in March) fell sharply amid lower purchases of petroleum products as fuel prices increased and weaker gas and electricity consumption during one of the warmest Aprils on record in France. Consumption of engineered goods also slowed markedly to 0.2% from 1.7% in March. Spending on durable goods fell slightly (-0.5% vs 2.8%), while spending on textiles and clothing continued to rise (1.3% vs 1.2%), alongside other engineered goods (0.7% vs 0.2%). Food consumption was broadly stable (-0.1% vs 0.1%), while tobacco consumption edged higher. On an annual basis, household consumption of goods declined 0.4% in April, following a downwardly revised 0.4% gain in March.

Household consumption of goods in France rose 0.7% month-on-month in March 2026, matching market forecasts and rebounding from a 1.4% decline in February. This was the biggest monthly gain since February 2025, driven by a renewed increase in purchases of engineered goods (1.6% vs -2.1% in February), particularly durables (2.9% vs -2.3%) and textiles and clothing (1.1% vs -4.4%). Energy expenditures edged up 0.1% after falling 1.4% in the prior month, as electricity consumption rose slightly, while diesel usage dropped again. Food consumption decreased at a slower pace (-0.1% vs -0.6%), as higher spending on tobacco and beverages partly offset continued declines in purchases of agricultural products and processed fruits and vegetables. Yearly, household spending increased 0.5%, following an upwardly revised 1.6% drop in February. For the first quarter of 2026, consumption fell 0.6%, reversing a 0.4% rise in the previous quarter, mainly due to lower energy spending (-2.3% vs 0.5% in Q4).

Household consumption of goods in France dropped 1.4% month-on-month in February 2026, worse than market expectations of a 0.2% fall, following a downwardly revised 0.4% rise in January. This marked the biggest monthly fall since April 2024. Energy expenditures declined further (-2.4% vs -1.2% in January) as gas and electricity consumption plunged amid warmer weather. Spending on engineered goods fell again (-1.7% vs 1.1%), with decreases across all components, namely durable goods (-1.8% vs 0.8%), other engineered goods (-0.1% vs 0.2%), and textiles and clothing (-4.0% vs 3.6%). Food consumption also dropped (-0.5% vs 0.4%) due to lower purchases of agri-food products, particularly beverages and tobacco. On an annual basis, household spending fell 1.5% in February, after a downwardly revised 0.3% gain in the previous month.