French consumer spending unexpectedly fell in July, although modest, the increase in figures from the statistical office INSEE on Wednesday.
Consumer spending fell 0.2 percent on month in July, slower than the decline in June by 0.8 percent.
It was the fourth consecutive monthly decline. In contrast, economists had expected growth of 0.4 percent for the month.
In July, spending on durable goods decreased significantly by 2.2%, reversing the increase of 0.6 per cent in June.
At the same time, energy consumption in July rose 1.3 percent, after it recorded a sharp 6.4 percent drop a month ago.
On an annual basis consumer spending rose 0.5 percent in July, below economists ‘ forecast of a rise of 1.1 percent.