Quotes from Societe Generale:
- We expect the French National Statistical Institute (INSEE) to report that consumer spending on goods increased by 0.1 pct m/m in November (-1.4 pct y/y). After the sharp drop recorded in October, we expect a 0.9 pct m/m increase in energy consumption. Yet, the mild temperatures suggest that the risk is tilted to the downside.
- Meanwhile, non-energy good consumption is expected to be flat. «Black Friday» was introduced in France at the end of November (27th-29th) and boosted sales, but this is likely to be offset by lower car sales.
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