Household consumption has fallen by 10.8%, in annual variation, instead of -21.2% in the previous quarter, said the HCP which has published its economic report for Q3 and outlook for Q4.

This development is attributable, in particular, to a slight upturn in household expenditure on manufactured goods, mainly clothing and equipment, as well as transportation and catering, explained the HCP.

Public administrations' consumption was reinforced by 5.9%, driven by the increase in operating and social services' expenditure, while investment continued its downward trend, due to the decline in investment in industrial and real estate products.

The report also showed that, in annual variation, the decline in gross capital formation (BCF) reached -17.4% in the third quarter of 2020.