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.