French Household Spending Plunges In November
French household spending declined sharply in November due to the implementation of lockdown measures, data released by the statistical office Insee showed Friday.
Household consumption plunged 18.9 percent on month in November, in contrast to October’s 3.9 percent increase.
The decrease was mainly driven by a 30.1 percent fall in manufactured goods sales and a 19.2 percent drop in energy expenditure. Food consumption was down 5.8 percent.
The statistical office said household consumption expenditure on goods was 17.1 percent lower than its level in November 2019. Nonetheless, the decline was less severe than the one observed during the first lockdown.
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