Household consumption expenditure on goods picked up sharply in February 2018 (+2.4%)Household consumption expenditure on goods - February 2018

In February 2018, households expenditure on goods soared (+2.4%) in volume*, after a two-month decline (−1.9% in January and −1.2% in December). This recovery in consumption was mainly due to a rebound in heating expenses. Food purchases and clothing expenses were also on the rise.

Informations rapides
No 86
Paru le : 30/03/2018
Prochaine parution le : 30/05/2018 at 08:45 - April 2018

In February 2018, households expenditure on goods soared (+2.4%) in volume*, after a two-month decline (−1.9% in January and −1.2% in December). This recovery in consumption was mainly due to a rebound in heating expenses. Food purchases and clothing expenses were also on the rise.

*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: strong rise

In February 2018, energy consumption surged (+8.9%), after a sharp decline in January (−6.4%). Heating expenses (gas and electricity) went up strongly, driven by cold waves that brought average temperatures in February more than two degrees below seasonal norms. This cold month followed the mildest January since 1900. Furthermore, refined product consumption rebounded (+1.6% after −3.5%), notably domestic heating oil.

Graph2 – Breakdown of energy

  • Source: INSEE

Engineered goods: sharp rebound

In February 2018, expenditure on engineered goods increased again after declining for two months. The rise was driven by car purchases and clothing expenses.

Durables: upturn

In February, consumption of durables recovered (+0.7% after −1.4%). Purchases of transport equipment regained momentum (+2.0% after −3.4%), in particular those of new cars and recreational vehicles.

However, expenditure on household durables declined (−1.1% after +1.5%), in particular purchases of computer products, communication equipments and audiovisual devices.

Textile-clothing: sharp recovery

In February, expenditure on textile-clothing picked up steeply (+3.1% after −1.8%). Purchases of shoes and textile were particularly dynamic.

Other engineered goods: slight fall

Purchases of “other engineered goods” were again slightly down (−0.2%, as in January). In particular, expenses on hardware and DIY materials decreased.

Graph3 – Breakdown of engineered goods

  • Source: INSEE

Food products: marked rebound

In February 2018, food consumption was on the rise (+1.1% after −0.7%). The upswing was significant in both unprocessed agricultural goods (fruits, vegetables) and in agrifood products (meat, dairy products). Consumption of beverages and tobbacco grew also.

Graph4 – Food products, engineered goods and energy

  • Source: INSEE

The variation in January 2018 is unchanged

Compared to the previous estimation, new information has been integrated and the seasonal adjustment coefficients have been updated, without revising the change in January 2018 (−1.9%).

Table – Household consumption expenditure on goods

Changes in %, TD-SA
Household consumption expenditure on goods
Weight (1) Dec. 2017 Jan. 2018 Feb. 2018 Feb. 18 / Feb. 17 Q / Q-1 (2)
Food products 38 –1.5 –0.7 1.1 0.3 –0.8
- excl. Tobacco 35 –1.4 –0.9 1.1 1.1 –0.6
Engineered goods 44 –1.4 –1.1 0.9 0.7 –0.6
- Durables 22 –1.7 –1.4 0.7 2.1 –0.9
Including : 0.0 0.0 0.0 0.0 0.0
- Transport equipment 12 1.5 –3.4 2.0 3.3 0.2
- Household durables 7 –6.6 1.5 –1.1 0.9 –2.7
- Textile-clothing 9 –2.3 –1.8 3.1 –1.6 –0.2
- Other engineered goods 13 –0.2 –0.2 –0.2 0.1 –0.4
Energy 18 –0.4 –6.4 8.9 8.8 0.9
- Energy, water, waste 10 –2.7 –8.6 15.1 14.1 1.2
- Refined Products 8 2.8 –3.5 1.6 2.3 0.6
Total 100 –1.2 –1.9 2.4 1.9 –0.4
- Including Manufactured goods 84 –1.0 –1.2 1.0 0.6 –0.5
  • (1) Weighting in the consumption expenditure on goods in value in 2016
  • (2) Last three months / previous three months