Household consumption expenditure on goods fell back in February 2017 (−0.8%)Household consumption expenditure on goods - February 2017

In February 2017, household consumption expenditure on goods decreased in volume* (−0,8%), after a rebound in the previous month (+0.6%). Expenses on energy fell back strongly; the increase in consumption of food products and engineered goods was not sufficient to offset the downward effect on overall consumption.

Informations rapides
No 87
Paru le : 03/31/2017
Prochaine parution le : 04/28/2017 at 08:45 - March 2017

In February 2017, household consumption expenditure on goods decreased in volume* (−0,8%), after a rebound in the previous month (+0.6%). Expenses on energy fell back strongly; the increase in consumption of food products and engineered goods was not sufficient to offset the downward effect on overall consumption.

*Volumes are measured at chain-link previous year prices (2010 euro billions) and all figures are trading-day and seasonally adjusted.

Graph1 – Total consumption of goods

  • Source: INSEE

Energy : marked decline

In February 2017, energy consumption fell back strongly (−10.9% after +5.1%), notably the expenses on gas and electricity (−16.5% after +7.6%). This sharp profile comes from strong temperature changes: the warmest February since 2007 succeeded to the coldest January since 2010. Consumption of refined products also declined substantially (−2.6%), mainly because of the fall in domestic heating oil purchases.

Graph2 – Breakdown of energy

  • Source: INSEE

Engineered goods : clear rebound

In February 2017, purchases of engineered goods bouced back clearly (+2.2% after −1.1%). Consumption of textile-clothing contributed the most to this growth.

Durables : recovering

In February, expenses on durables recovered (+0.9%), after two consecutive months of decline. Expenses on household durables sped up (+1.3% after +0.9%), in particular on furnitures. Car purchases recovered a little (+0.4% after −2.6%), driven by a slight upturn in the purchases of new vehicles. Spending on jewellery-clocks were dynamic.

Textile-clothing: strong increase

In February, expenses on textile-clothing bounced back vigorously, reaching their strongest monthly growth since July 2010 (+8.8% after −3.4%). The increase, partly due to the postponement by one week of winter sales, affected textile products and clothing as much as footwear.

Other engineered goods: virtually stable

In February, purchases of other engineered goods were virtually stable (+0.1% after +0,9%) despite a growth in hardware and DIY expenses.

Graph3 – Breakdown of engineered goods

  • Source: INSEE

Food products : increasing again

February, consumption of food products continued recovering (+0.5% after +0.6%). Agrifood products increased mainly because of tobacco consumption, while consumption of unprocessed agricultural goods (fresh fish, fruits and vegetables) decreased.

Graph4 – Food products, engineered goods and energy

  • Source: INSEE

The variation in January 2017 is unchanged

The variation in household expenditure on goods in January 2017 is unchanged (−0.6%). Since the previous publication, new information has been integrated and the seasonal adjustment coefficients have been updated but the slight revisions in different aggregates have offset each other.

Table – Household consumption expenditure on goods

Variation in percentage
Household consumption expenditure on goods
Weight (1) Dec. 2016 Jan. 2017 Feb. 2017 Feb. 17 / Feb. 16 Q / Q-1 (2)
Food products 38 –0.6 0.6 0.5 0.3 −0.3
Engineered goods 45 –0.5 –1.1 2.2 1.8 0.3
- Durables 22 –0.5 –1.4 0.9 0.0 –0.1
Including:
- Automobiles 12 1.2 –2.6 0.4 1.0 1.1
- Household durables 8 –2.8 0.9 1.3 –2.1 –1.3
- Textile-clothing 9 –0.5 –3.4 8.8 5.9 0.3
- Other engineered goods 13 –0.4 0.9 0.1 2.2 0.8
Energy 17 –2.8 5.1 −10.9 –2.5 –0.7
- Energy, water, waste 10 –2.8 7.6 –16.5 –4.0 –0.8
- Refined products 7 –2.9 1.6 –2.6 –0.4 –0.6
Total 100 –1.0 0.6 –0.8 0.5 –0.1
- Including Manufactured goods 84 –0.7 –0.2 1.3 1.6 0.2
  • (1) Weighting in the consumption expenditure on goods in value in 2016
  • (2) Last three months / previous three months