France Household Spending Ticks Down

Household consumption in France edged down to 0.2% month-over-month in May 2025, from an upwardly revised 0.5% increase in the previous month, though it slightly exceeded market expectations of a 0.1% gain. The slowdown was primarily driven by a decline in food expenditures, which fell by 0.4% following a 2.7% rise in the previous month—largely due to reduced purchases of various food items, including chocolate, confectionery, and beverages. Meanwhile, spending on manufactured goods declined by 0.3%, reversing a 0.6% gain in April, as purchases of durable goods decreased. In contrast, energy consumption rebounded notably, rising by 2.2% after a 3.7% drop in the previous month. On an annual basis, household spending fell by 0.5% in May 2025.