French consumer spending far exceeds November expectations

ForexNewsNow | Published on December 23, 2010 at 2:58 am

NEW YORK (Forex News Now) – French consumer spending rose unexpectedly in November, data showed on Thursday in one of the day’s major realtime forex news events.

In a report likely to impact currency market trading, the National Institute of Statistics and Economic Studies said that the total value of inflation-adjusted goods expenditures by consumers rose by 2.8% in November, following a fall of 0.6% the previous month.

Analysts had expected November’s figure to come in at just 0.5%, two major online FX trading news outlets reported.

The data is the main gauge of consumer spending, which accounts for most of overall economic activity.

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