Latest data released by INSEE - 21 December 2018
- Prior +0.8%; revised to +0.9%
- Consumer spending -2.0% vs -1.6% y/y expected
- Prior +0.9%
Consumption declines more-than-expected as spending on pretty much all products declined on the month. The only notable bright spot was that energy spending grew by 0.7% in November but other than that, the pattern is worryingly poor. The yellow vest protests may have something to do with that so let's see how the trend will be like in the coming months.
