PARIS (dpa-AFX) - France's household consumption grew less-than-expected in March amid lower spending on food and clothing, data from the statistical office INSEE showed Friday.
Consumer spending rose 0.2 percent from February, when it grew 0.5 percent, revised from 0.6 percent. Economists had forecast 0.4 percent increase. In January, spending gained 1 percent.
The dynamism of expenses on energy was partly offset by the withdrawal of expenditure on food products and textile-clothing, the INSEE said.
In the first quarter, spending rebounded with 1.7 percent sequential growth after a 0.5 percent slump in the previous three months. The increase was led by spending on energy and household durables.
On a year-on-year basis, consumer spending rose 2.7 percent in March, which was much faster than the 2.1 percent increase economists had forecast.
Copyright RTT News/dpa-AFX