France: Consumer confidence inches down in February
February 27, 2014
In February, the consumer sentiment index published by the National Statistical Institute (INSEE) inched down from the 86 points recorded in January to 85 points. The print came in below expectations of the index remaining at 86 points.
The monthly deterioration came on the back of worse expectations over financial conditions in the next twelve months. The sharpest fall was seen in consumers' perceptions of their expected saving capacity. Consequently, consumers' intentions to buy big-ticket items also deteriorated in February. They were also more pessimistic about the country's past and future general economic situation as well as about labor market conditions. Finally, households' outlook on the unemployment situation deteriorated over the previous month.
FocusEconomics Consensus Forecast panelists expect private consumption to inch up to 0.7% this year, which is unchanged over last month's forecast. The panel expects private consumption to accelerate moderately to 1.1% in 2015.