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Despite a rebound in December (+0.7%), household consumption of goods declined over the fourth quarter of 2015 (-0.9%)

In December 2015, household consumption expenditure on goods picked up, growing by 0.7% in volume* after a marked decrease in November (-1.4%). In particular, expenditure on textile-clothing bounced back and food products consumption accelerated.

Over the fourth quarter, household consumption expenditure slipped back (-0.9% after +0.7%), driven down primarily by the sharp drop in energy consumption. However, over the year 2015, household consumption accelerated substantially (+1.8% after -0.2%), mainly due to the rebound in energy consumption.

Engineered goods: rebound in December, downturn over the quarter

In December, purchases of engineered goods picked up (+1.6% after -0.8% in November), mainly because of textile-clothing. However, they edged down by 0.8% over the quarter.

Textile-clothing: considerable rebound

Expenditure on textile-clothing climbed markedly again in December (+4.2%) after slipping for three consecutive months. Over the fourth quarter, expenditure fell back sharply (-3.0% after +2.0%).

Durables: on the rise

In December, expenditure on durable goods kept growing (+1.1%), at faster pace than in November (+0.3%). This acceleration was driven up by a rebound in car purchases (+1.7% after -0.3%).

Over the fourth quarter, however expenditure on durable goods weakened (-0.6%), hampered notably by a dip in car purchases (-1.5% after 0.0%) as well as by a sharp slowdown in expenditure on household durables (+0.5% after +2.5%).

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

Total consumption of goods

Total consumption of goods

Source: INSEE

Food and engineered goods

Food and engineered goods

Source: INSEE

Breakdown of engineered goods

Breakdown of engineered goods

Source: INSEE

Other engineered goods: growing

In December, expenditure on other engineered goods went up anew (+0.7% after a stagnation in November), thanks to hardware purchases. Over the quarter, expenditure on other engineered goods edged up (+0.5% after +0.2%).

Energy: dropping again in December, downturn over the quarter

In December, energy expenditure dropped once again (-2.5% after -7.1%). In particular, spending on gas and electricity continued to plummet because of exceptionally mild temperatures, and hit its lowest level since March 2002. Conversely, consumption of refined products recovered (+5.6%, after decreasing for three months in a row), especially that of domestic heating oil.

Over the fourth quarter, energy expenditure declined sharply (-3.5% after +1.8% over the third quarter).

Food products: increasing in December and over the quarter

In December, consumption of food products gathered pace. It grew by 1.2% within a month (after +0.6%), its highest increase since June 2014. Over the fourth quarter, consumption picked up (+0.3% after -0.2%).

The variation in November 2015 is revised downwards

The variation of household expenditure on goods in November 2015 is revised downwards by 0.3 points: it now stands at -1.4%, instead of -1.1%. Indeed, since the previous publication, new information has been integrated, mainly regarding energy, and the seasonal adjustment coefficients have been updated.

Energy

Energy

Source: INSEE

Household consumption expenditure on goods
Variation in percentages
(1) Weighting in the consumption expenditure on goods in value
Source: INSEE
Weight (1) Oct. 2015 Nov. 2015 Dec. 2015 Dec. 15 / Dec. 14 Q4 / Q3 2015
Food products 38 0.0 0.6 1.2 2.1 0.3
Engineered goods 44 –1.3 –0.8 1.6 2.2 –0.8
- Inc. Durables 21 –2.1 0.3 1.1 4.4 –0.6
- Automobiles 11 –3.5 –0.3 1.7 4.5 –1.5
- Household durables 7 0.2 0.4 0.0 4.8 0.5
- Inc. Textile-clothing 10 –1.2 –4.5 4.2 –2.3 –3.0
- Inc. Other engineered goods 13 –0.1 0.0 0.7 1.9 0.5
Energy 18 2.1 –7.1 –2.5 –8.0 –3.5
- Inc. Energy, water, waste 10 5.5 –11.4 –9.8 –14.1 –4.4
- Inc. Refined Products 9 –1.8 –1.9 5.6 –1.3 –2.6
Total 100 –0.2 –1.4 0.7 0.3 –0.9
- Inc. Manufactured goods 85 –0.8 –0.4 1.7 1.9 –0.5

Informations Rapides

n° 31 - January 29, 2016

Household consumption expenditure on goods - December 2015

Next issue February 26, 2016 08:45 - January 2016

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