France: The last small rise
Household consumer spending on goods registered a small 0.1% gain in June in real terms. This is the third increase in a row and it is based on a stronger rise of 0.5% of manufactured goods purchases. Over the whole second quarter, spending on goods is however down by 0.2%. Services consumption should offset this decline, contributing to a small rise in personal consumption expenditures which shall mitigate the expected GDP contraction.
The USD/JPY even advanced 1.2 percent to 96.45
Varengold Wertpapierhandelsbank AG
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