Further decrease in consumption
March 26, 2010
The decline in consumption has continued in February, although at a slower pace. Household spending fell 1.2% in February, Insee said Thursday. Consumption of January has been revised slightly upwards to 2.5% instead of -2.7%. Economists surveyed by Dow Jones agency expected a stabilization of consumption in February.
The dress has plagued the index with a fall of 5.4% due to fewer weeks of balances authorized earlier this year."Given the uncertain economic situation and facing a job market that continues to deteriorate, the French give up unnecessary expenditure," judge for his part, Alexander Law, chief economist at Xerfi bad credit payday loans !!!???!!! ???!!!.
Spending on housing equipment also fell by 0.4% against 1.2% in January.
However, after a real drop in January (-16.7%), auto sales fell 1.5% last month. "The decline in premium case the first of January 2010 had brought the car in late 2009 consumption: in turn, it results in a decrease in shopping early this year, INSEE said.
Regarding the evolution of consumption, we remain pessimistic for the rest of the year when the fundamentals (employment, wages, etc..) Are misguided, "provides Adele Renaux, economist at Natixis.
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