The World Cup effect past the French household consumption of manufactured goods fell 1.4% in June and fell 0.9% on the entire second quarter, posting INSEE.
The disappointing figures, well below expectations, suggest a decrease in consumption of all households in the second quarter, including services and supply, which would be a first for two years.
Twenty-three economists polled by Reuters predicted an average increase of 0.2% in June, with estimates ranging from -1.8% to +1.0%.Initially announced at 0.7%, May's increase was revised to 0.6% after a decline of -1.4% in April.
Since the beginning of the year, spending on manufactured goods have registered only two months of increases in March and May The decrease of 0.9% over the entire second quarter followed a 1.9% decline in first.
"The consumer was dynamic in the last quarter of 2009 was considerably weakened when it has always been the mainstay of the business in France.It is a real concern, "said Dominique Barbet, economist at BNP Paribas.
In June, it is the consumer electronics and clothing that have seen their sales drop, taking over auto sales down sharply in early years after the decline of the "scrappage".
After a jump of 6.4% in May, largely due to purchases of televisions before the World Cup in South Africa, the post of home furnishings fell 3.6% in June, biggest drop since November 2002.
For the sole property of consumer electronics, the decline was 3.7% after a surge of 12.4% in May
DROP IN THE CAR Dyked
Spending on textiles and leather have in turn fell 5.0% in anticipation of summer sales that began June 30, five days later than in 2009, but this schedule gives hope for a rebound in July.
For the quarter, the home furnishings rose 3.0% but textiles and leather down 2.8%.
The decline in car sales for its part was contained in June (0.0% after -0.3% in May and -9.2% in April) but the decline reached 8.4% in the quarter, after already a fall of 11.5% in the first quarter.
The 0.9% decline in spending on manufactured goods in the second quarter fears of a decline in overall consumption, for the first time since the second quarter of 2008 when it fell by 0.1%, said Dominique Barbet.
Purchases of manufactured goods account for about one quarter of total household consumption of goods and services, which is much less volatile statistics and published quarterly in the national accounts framework.
In the first quarter, it had stagnated (0.0%), lower than 1.9% of purchases of manufactured goods was offset by an increase in individual consumption of energy.
INSEE, in his memo on the economy published in June, sees yet remain stalled in the second quarter before a rise of 0.3% in the next two quarters.
"The stabilization of consumer sentiment was announced yesterday is quite encouraging, but the outlook remains weak and not with this level of consumption we can expect 1.5% or 2.0% growth," observes the economist of BNP Paribas.
"Household consumption in manufactured goods grows with a horizontal trend since the first half of 2007, although movements in the car drove the second half of 2009," said Philippe Waechter, director of economic research at Natixis Asset Management.
"In relation to a consumer confidence still low, reflecting concerns about jobs and taxes, we can not imagine a rebound coming and it will penalize significantly the growth momentum in the second half."