France: Consumer confidence drops below market expectations
November 25, 2011
The consumer sentiment index published by the National Statistical Institute (INSEE) fell from 82 points in October to 79 points in November, losing some of the ground gained in the previous month. The reading was below market expectations, which had the index dropping to 81 points. With the November drop, consumer confidence fell further below its long-term average of 100 points. Households were more downbeat about their financial situation and the general economic situation. In addition, employment expectations deteriorated notably after the improvement in October. Consequently, consumers' willingness to make major purchases deteriorated compared to the previous month.