France: Consumer confidence drops in March
March 25, 2016
The consumer confidence indicator elaborated by the National Statistics Institute (INSEE) fell from February’s 95 points to 94 points in March. The result undershot the 96 points the markets had expected and marked the lowest result since August. As a result, the consumer confidence indicator fell further below its long-term average of 100.
In its statement, INSEE pointed out that the result came on the back of a deterioration in consumers’ opinions regarding their future financial prospects and a more pessimistic outlook on households' saving capacity, which dropped to its lowest level since March 2012. Consumers’ willingness to buy big-ticket items, on the other hand, remained stable compared to February’s reading.