Bloomberg News

French Consumer Spending Drops in March on Lower Energy Demand

April 27, 2012

French consumer spending fell in March as demand for energy declined and households reduced food purchases.

Spending declined 2.9 percent from February, when it rose a revised 2.9 percent, national statistics office Insee said today in an e-mailed statement. Economists expected a drop of 1.9 percent, according to the median of 15 estimates gathered by Bloomberg news.

“After a month of February with a marked increase because of heating expenses linked to a cold spell, household energy consumption plunged in March,” Insee said. “Food spending fell back after two consecutive months of increase.”

To contact the reporter on this story: Mark Deen in Paris at markdeen@bloomberg.net

To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net


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