French household consumption jumps by 2.8% in Nove

jiajia101

Soaring car purchases pulled up French household consumption in manufactured goods by 2.8 percent in November [link widoczny dla zalogowanych], French national statistics institute Insee said on Thursday.
On annual basis, November household consumption in manufactured goods increased by 1.5 percent [link widoczny dla zalogowanych], according to Insee.
Consumption of manufactured goods accounted for 25 percent of the country's total consumption of goods and services in November [link widoczny dla zalogowanych], 0.6 percentage points lower than in October.
The November data showed an increase of 6.6 percent in consumer's expenditure in durable goods compared with that in October, with car purchases having jumped by 14.9 percent after a decline of 4.3 percent in October.
The surge on consumption of manufactured goods in November is attributed to car purchases as consumers rush for cars before car purchase subsidies expire at the end of the year, Insee said in its quarterly report.
France introduced subsidies to boost car sales to help the business cope with the global financial crisis. The scheme offered initially 1,000 euros (1,310 U.S. dollars) per car before it was reduced to 500 euros (655.34 dollars) on July 1.
The consumption of textile and leather products rose by 2.9 percent in November after two months of stability.