France: Consumer confidence bounces back in July
July 26, 2013
In July, the consumer sentiment index published by the National Statistical Institute (INSEE) rose to 82 points, up from the all-time low of 79 points registered in June. The print exceeded market expectations that saw the indicator remaining unchanged. Consumer confidence, however, remains well below its long-term average of 100 points.
The July result showed that consumers are less pessimistic about employment prospects than they have been in over a year. They also feel more positive about the overall economic outlook than they did in June. Moreover, consumers' intentions to make purchases rose as they believe their future financial situations are improving.
FocusEconomics Consensus Forecast panellists expect private consumption to remain flat this year, which is unchanged from last month's forecast, before accelerating moderately to 0.5% in 2014.