French household spending fell by 0.2 percent in the second quarter but rose slightly in June, while new housing starts continued to fall sharply, official data showed Tuesday.
Household spending was up 0.1 percent in June following a 0.5 percent increase in May, the INSEE national statistics office said.”The very slight increase in spending in June was due to increased spending on foodstuffs, which offset a decline in energy spending”, it said.
Purchases of food were up 1.0 percent in June, though down 1.3 percent over the second quarter.
Energy consumption was down 1.3 percent in June, after a 2.9 percent fall in May, though it was up 2.7 percent overall in the second quarter after unseasonably cold weather kept gas and electric spending high.
Data published by France’s housing ministry meanwhile showed new housing starts were down 14 percent between April and June, after plummeting 19.9 percent between March and May.
The number of permits issued for new builds was also down 1.9 percent between April and June, after a 2.0 percent decline in the previous period.
For April to June, the number of new housing starts was 69,937 units. Over the 12 months between July 2011 and June 2012, housing starts remained slightly positive, with a gain of 2.7 percent.
Source by: The Star
Picture by: telegraph
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