Latest data released by INSEE - 30 January 2019
- Prior -0.3%; revised to -0.1%
- Consumer spending -2.3% vs -0.7% y/y expected
- Prior -2.0%; revised to -1.5%
Once again, these are really poor numbers coming out of France. The yellow vest protests may have something to do with this here but this sort of feeds into why we saw such poor PMI prints earlier this month from the French economy.
The release here should feed into the GDP figures earlier so it's not going to matter all too much but in any case, weakening consumer sentiment doesn't bode well for the outlook as we begin 2019.
