French consumption to soften in April

French consumption to soften in April
The French National Statistical Institute (INSEE) is likely to report that consumer spending on goods decreased by 1.0% mom in April (1.1% yoy). 

"This drop should be mainly driven by a clement weather-led slowdown in energy consumption which is likely to fall sharply in April (SG: -8.8% mom). On the other hand, consumer spending on goods excluding energy is expected to rise slightly by 0.5% mom over the same period", according to Societe Generale.