World Cup fever buoys up French household consumption

21:06, June 24, 2010      

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French household consumption in manufactured goods for May increased by 0.7 percent, mainly buoyed by durable goods flourish, especially consumers electronics demanded by football fans, according to a report released Thursday by the national statistics bureau Insee.

After 1.3 percent decrease in household consumption in April, the May data recorded 0.7-percent rise as expenditures in durables increased dramatically by 3.6 percent, a remarkable contrast to last month's 4.5 percent decrease.

Spendings in consumers electronics such as TV sets and numeric decoders increased the most, outstanding the general dynamic picture of household durables, Insee said, attributing the boost to the "world cup effect."

However, the fostering effect of World Cup to electronic sales is "temporary" and to be revised over the coming months, the Press Agency of France quoted local economist as saying, which means the household consumption won't rebound long and will continue the downward trend.

According to Insee memo over medium-term economic climate published on Wednesday, the World Cup stimulus will improve the data in a limited way.

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