French consumer spending increased at a slower-than-expected pace in March, figures from the statistical office INSEE showed Friday.
Consumer spending edged up 0.1 percent month-over-month in March, well below the 2.5 increase in February. Economists had forecast a 0.5 percent rise for the month.
Expenditure on food products rose 0.2 percent over the month and those for engineered goods went up by 0.7 percent. Meanwhile, energy consumption decreased 1.6 percent.
On a yearly basis, consumer spending climbed 2.3 percent March. During the first quarter, expenditure on goods was stable, like in the previous quarter.