French consumption to decrease in February

The French National Statistical Institute (INSEE) is likely to report that consumer spending on goods decreased by 1.2% mom in February (1.7% yoy). 

According to Societe Generale, this would mainly stem from the energy component which is likely to have dropped by 3.9% mom in February. Meanwhile, non-energy goods consumption should decrease slightly by 0.6% mom (+1.5% yoy).