French consumer spending likely to have expanded in November

France’s consumption is expected to have remained strong in November. According to a Societe Generale research report, consumer spending is expected to have grown 0.4 percent in November after rising 0.9 percent sequentially in October. There are encouraging signs – new car registrations were quite buoyant in November, whereas the INSEE business survey indicated retail trade at 104 in November.

But solid growth in overall consumer spending might have held back by the energy component, with temperatures a little above average last month. However, the projection would still mark quite a strong beginning to the fourth quarter consumption. With an unchanged profile in December, it might suggest a 1 percent sequential rise on third quarter, stated Societe Generale.