French consumer spending increased for the second straight month in January, in line with expectations, data from INSEE showed Friday.
Consumer spending rose 0.6 percent month-over-month in January, slower than previous month’s 1.0 percent spike, which was revised up from a 0.7 percent climb reported earlier.
The figure was also matched with consensus estimate.
Expenditure on energy bounced back markedly in January and consumption of household durables kept rising at a sustained pace, the agency said.
At the same time, consumption food products fell 0.8 percent in January after increasing in the prior two months.
On an annual basis, consumer spending grew 0.6 percent at the start of the year, exceeding economists’ expectations for a 0.3 percent hike.
The material has been provided by InstaForex Company – www.instaforex.com