France: Consumer confidence jumps to highest level in nearly eight years
September 25, 2015
Following five months of relative stable sentiment, confidence among French consumers improved notably in September. The consumer confidence indicator elaborated by the National Statistics Institute (INSEE) jumped from August’s 94 points to 97 points in September. The result overshot the 94 points the markets had expected and marked the highest level since October 2007. As a result of the monthly increase, the consumer confidence indicator moved closer to its long-term average of 100.
In its statement, INSEE pointed out that consumer’s opinions regarding their current financial situation as well as financial prospects improved over the previous month. In addition, September’s improvement in overall consumer confidence reflected the fact that more households are willing to make major purchases now. In addition, more consumers see that their savings capacity now has improved compared to a year ago and their savings capacity in the next 12 months will improve.
Author: Eric Denis , Economist