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Despite a downturn in March (-0.6%), household consumption of goods grew sharply over the first quarter of 2015 (+1.6%)

In March 2015, household consumption expenditure on goods stepped back: –0.6% in volume*, after increasing for four months in a row. This decline was mainly attributable to the downturn in energy consumption (–3.2% in March). However, over the first quarter, household expenditure on goods increased markedly (+1.6%), mainly as a result of a substantial rebound in consumption of energy and the acceleration in expenditure on durable goods. This result represents the highest rise since the fourth quarter of 2009.

Engineered goods : declining slightly in March, increasing markedly over the quarter

Durables: speeding up over the quarter

Household expenditure on durable goods went up in March (+1.0%), after holding steady in February. Expenditure on household durables dropped back slightly (–0.2%), after two consecutive months of growth. Conversely, car purchases bounced back (+1.9% after –0.7% in February).

Over the first quarter 2015, expenditure on durable goods sped up significantly (+1.8% after +0.5%), primarily because of car purchases (+2.5% after –0.3%). Expenditure on household durables, for its part, kept rising at almost the same pace as over the previous quarter (+1.3% after +1.5%).

Textile-leather: weakening in March, growing over the quarter

Consumption of textile, clothing and leather decreased in March (–3.3% after –0.2%). In contrast, purchases accelerated over the first quarter (+2.8% after +1.5%).

[* Volumes are chained and all figures are trading days and seasonally adjusted.]

Total consumption of goods

Total consumption of goods

Food and engineered goods

Food and engineered goods

Breakdown of engineered goods

Breakdown of engineered goods

Other engineered goods: accelerating over the quarter

Consumption expenditure on other engineered goods was practically stable in March (+0.1%, after +0.6%). It sped up over the first quarter (+1.1% after +0.6%).

Food products: recovering slightly in March, virtually flat over the quarter

In March, consumption of food products picked up slightly (+0.2% after –0.3%), especially due to tobacco consumption. Over the first quarter, it was almost stable (+0.1% after +0.7% over the previous quarter).

Energy: downturn in March, significant rebound over the quarter

In March, household consumption of energy products eased back (–3.2%), after three consecutive months of increase. Oil, electricity and gas consumption dipped substantially.

Over the first quarter, however, consumption of energy products bounced back sharply (+4.4% after –2.2%).

The variation in March is scaled up by 0.1 point

Household consumption of goods is scaled up by 0.1 point in February, now estimated at +0.2% instead of +0.1% within the previous publication. Conversely, the estimation in January is scaled down by 0.1 point (+0.6%, instead of +0.7% as previously estimated).

These revisions are mainly due to the integration of new information, as well as the updating of the seasonal adjustment coefficients, particularly regarding energy.

Energy

Energy
Household consumption expenditure on goods
In chained billion euros
Jan. Feb. March March2015/ Q1 15/
2015 2015 2015 March2014 Q4 14
Food products 15.953 15.911 15.949
Change (%) –0.1 –0.3 0.2 1.2 0.1
Engineered goods 20.402 20.431 20.391
Change (%) 1.4 0.1 –0.2 2.8 1.8
Durables 10.126 10.124 10.229
Change (%) 1.7 0.0 1.0 4.3 1.8
- of which automobiles 4.714 4.681 4.768
Change (%) 3.1 –0.7 1.9 1.5 2.5
- of which household durables 4.195 4.202 4.193
Change (%) 1.1 0.2 –0.2 8.1 1.3
Textile-leather 4.251 4.244 4.103
Change (%) 2.0 –0.2 –3.3 2.2 2.8
Other engineered goods 6.022 6.061 6.065
Change (%) 0.5 0.6 0.1 0.7 1.1
Energy 7.192 7.273 7.042
Change (%) 0.1 1.1 –3.2 2.0 4.4
- including petroleum products 4.423 4.443 4.313
Change (%) –2.0 0.5 –2.9 –0.4 2.8
Total 43.529 43.603 43.348
Change (%) 0.6 0.2 –0.6 2.1 1.6
Manufactured goods 37.256 37.265 37.184
Change (%) 0.2 0.0 –0.2 1.8 1.0

Informations Rapides

n° 106 - March 30, 2015

Household consumption expenditure on goods - March 2015

Next issue May 29, 2015 08:45 - April 2015

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