French consumer spending rose more sharply than expected in October as shoppers splashed out on household equipment and clothes, according to data today.
National statistics office INSEE said consumer spending on manufactured goods rose by 1.1 per cent in October, well above expectations for a rise of 0.4 per cent, and following an upwardly revised jump of 2.4 per cent in September.
In separate data, INSEE said confidence in France's factories remained unchanged at 89 in November.
The improvement in consumer spending was partially driven by a 2.2 per cent increase in purchases of household equipment
Spending on clothing also remained buoyant, jumping 2.6 per cent on the month, after a rise of 2.9 per cent in September.
However, car sales edged up a modest 0.6 per cent in October after September's 10.2 per cent increase, as the positive impact of the government's car scrappage scheme began to wane.
Reuters