French consumers spent at the fastest pace in nearly seven years during August, official data showed today.
National statistics office INSEE said consumer spending for August surged 3.3 per cent, the highest since 3.5 per cent in July 1999.
That followed a drop of 0.9 per cent in July. It was the first time the July figure had been released and was worse than the consensus forecast for a drop of 0.5 per cent.
INSEE also revised down household spending in June to a rise of 0.9 per cent from a previously reported 1.7 per cent.
