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- French consumer spending falls sharply in November
French consumer spending falls sharply in November
According to the report from the Insee, in November 2020, household consumption expenditure on goods dropped (–18.9% in volume* after +3.9% in October). This decrease was mainly explained by the implementation of lockdown measures from October 28; it was particularly marked for purchases of manufactured goods (–30.1%) and energy expenditure (–19.2%). Food consumption is also falling (–5.8%).
Household consumption expenditure on goods is thus 17.1% lower than its level in November 2019. This decline is however less severe than the one observed during the 1st lockdown (–32.8% in April 2020, compared to April 2019).
In November, manufactured good consumption dropped (–30.1%). Durable goods purchases (–24.7%) and other manufactured goods (–25.3%) were in sharp decline. Spending on clothing and textiles dropped more sharply (–53.0%).
In November, spending on durable goods fell by 24.7%. Purchases of transport equipment fell by 20.8%, mainly due to the drop in purchases of new cars. Likewise, purchases of household equipment fell by 25.4%, led by lower purchases of furniture and household appliances.
In November, spending on clothing and textiles was halved (–53.0%), due to the drop in sales of clothing and footwear.
In November, consumption of "other manufactured goods" fell (–25.3%), due to the sharp decline in sales of perfumes, as well as sales of games and toys and sports equipment.
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