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French consumer spending rises in January

Staff Writer |
French consumer spending rebounded in January on a jump in household spending on heating which offset continued weakness in demand for manufactured goods.

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Consumer spending in the eurozone's second largest economy rose 0.6% in January from the previous month and 1.4% from same month last year, statistics agency Insee said.

Insee revised the December figure down to -1% from -0.8% previously.

Energy spending rose 5.1% on month in January, fueled by a rise in heating demand as France recorded the coldest start to the year in seven years, Insee said.

Spending on heating helped to mask continued weakness in the manufactured goods segment. Household spending on manufactured goods declined 1% on month after a 0.7% decline in December.

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