Investing.com - Consumer spending in France rose significantly more-than-expected in November, easing concerns over the health of the euro zone’s second-largest economy, official data showed on Tuesday.
In a report, INSEE said that French consumer spending increased by a seasonally adjusted 1.4% last month, easily surpassing expectations for a 0.4% gain. Consumer spending in October was revised to a decline of 0.1% from a previously reported drop of 0.2%.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD falling 0.16% to trade at 1.3675.
Meanwhile, European stock markets were higher after the open. The EURO STOXX 50 rose 0.55%, France’s CAC 40 added 0.3%, London’s FTSE 100 increased 0.4%, while Germany's DAX remained closed for Christmas Eve.
In a report, INSEE said that French consumer spending increased by a seasonally adjusted 1.4% last month, easily surpassing expectations for a 0.4% gain. Consumer spending in October was revised to a decline of 0.1% from a previously reported drop of 0.2%.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD falling 0.16% to trade at 1.3675.
Meanwhile, European stock markets were higher after the open. The EURO STOXX 50 rose 0.55%, France’s CAC 40 added 0.3%, London’s FTSE 100 increased 0.4%, while Germany's DAX remained closed for Christmas Eve.