France Consumer Confidence August 2017

France

France: Consumer confidence dips in August

August 25, 2017

The consumer confidence indicator produced by the National Institute of Statistics and Economic Studies (INSEE) dropped from 104 points in July to 103 points in August. Despite the drop, the indicator remains above its long-term average of 100 points, where it has been since January. The indicator crossed the threshold in January for the first time since September 2007.

August’s decline reflects mixed views on the French economy. While expected saving capacity and views on the future financial situation improved, consumers saw their future standard of living in a more negative light. This subcomponent declined steeply for the second consecutive month. In contrast, unemployment fears dropped to their lowest level since January 2008 and are far below the subcomponent long-term average.

FocusEconomics Consensus Forecast panelists expect private consumption to increase 1.4% in 2017, which is unchanged from last month’s forecast. The panel expects private consumption to grow 1.5% in 2018.


Author: Jean-Philippe Pourcelot, Economist

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France Consumer Confidence August 2017

Note: Value of monthly consumer confidence index; long-term average at 100.
Source: National Institute of Statistics and Economic Studies (INSEE).


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