French consumer spending rebounded higher than expected in November, propelled by strong clothing sales and energy consumption.
Consumer spending in the eurozone’s second-largest economy rose 2.2% on month in November after a 2.1% contraction in October, French statistics agency Insee said Friday. Analysts polled by the Wall Street Journal had forecast a 0.9% rise on month. On year, French consumer spending rose 1.2% in November compared with a consensus forecast of 0.4%.
Spending on manufactured goods rose 1.5% on month in November as clothing sales jumped 5.7% after a weak month in October. A 7.6% surge in energy spending amid colder-than-normal weather also supported overall spending in November, Insee said.
Source: Dow Jones
Italy’s Industrial Orders Recover In October
Italy’s industrial orders and turnover recovered in October, data published by the statistical office Istat showed Friday.
Industrial orders grew 1.9 percent month-on-month in October, reversing a 4 percent drop in September.
Orders in domestic market gained 1.9 percent and that in non-domestic market grew 1.8 percent.
On a yearly basis, growth in industrial orders accelerated sharply to 12.5 percent from 4.5 percent in September. This was the biggest growth since August 2016.
Further, data showed that industrial turnover grew 1.1 percent on month in October, in contrast to a 1.2 percent fall in September. Year-on-year, turnover growth improved further, to 6 percent from 5.2 percent.
Source: RTT News