https://www.cmegroup.com/content/dam/cmegroup/images/common/default/article-940x600.jpg
FR: Consumer Mfgd Goods Consumption
| Actual | Previous | Revised | |
| Month over Month | 1.6% | -1.7% | -2.1% |
| Year over Year | 2.1% | -0.9% | -0.8% |
Highlights
Consumers spent 1.6 percent more on manufactured goods in March than they did in February when they reined in spending by 2.1 percent. From a year ago, spending rose 2.1 percent after a 1.6 percent increase in February.
Spending on durable goods increased by 2.9 percent month-on-month, more than reversing a 2.3 percent drop the month before and rose 3.7 percent on transport equipment.
Spending on energy was a surprise, rising only 0.1 percent in March and 3.0 percent lower than a year ago. During the first quarter, energy spending was down 2.3 percent from the previous three-month period. That is, however, likely to change given the ongoing price pressures from the conflict in the Middle East.
Overall spending including food products and energy was 0.7 percent higher in March than in February when it fell by 1.4 percent. Year-on-year, spending increased 0.5 percent, extending the 0.7 percent gain seen the month before.
It's unclear whether consumers have been spending on big ticket items to get ahead of expected higher prices as has been the case for industry.
Definition
Consumption of manufactured goods by consumers is an indicator of consumer spending for household durable goods such as autos and furniture. The data are released separately as part of the report on total goods spending.
Description
This indicator is a measure of retail sales and is unique to France. It measures consumer spending for household durable goods such as autos and furniture. The data are seasonally and workday adjusted. These adjustments eliminate the fluctuations that are solely due to changes in the number of working days. The data appear to be particularly sensitive to the number of worked Saturdays. With consumer spending a large part of the economy, market players continually monitor spending patterns. Retail sales are a measure of consumer well-being.
The pattern in consumer spending is often the foremost influence on stock and bond markets. For stocks, strong economic growth translates to healthy corporate profits and higher stock prices. For bonds, the focus is whether economic growth goes overboard and leads to inflation. Ideally, the economy walks that fine line between strong growth and excessive (inflationary) growth.
Retail sales not only give you a sense of the big picture, but also the trends among different types of retailers. Perhaps auto sales are especially strong or apparel sales are showing exceptional weakness. These trends from the retail sales data can help you spot specific investment opportunities, without having to wait for a company's quarterly or annual report.