Cooling Economic Outlook - December 2022
Household consumption and investment
In Q3 2022, household consumption remained virtually stable (-0.1%) compared to the previous quarter, with spending on goods falling for the third consecutive quarter, and the recovery in services weakening. Regarding goods, purchases of transport equipment rebounded –after five quarters of decline– and the same for fuel (driven by a very dynamic September), but inflation continued to affect purchases of food products, down substantially since Q1. On the services side, the strong catch-up effects measured in Q2 lessened in transport services and accommodation-catering. The household savings ratio increased in Q3, due to this stability in consumption and an increase in purchasing power in this quarter...
Conjoncture in France
Paru le :06/01/2023