France: Consumer confidence moderates in October
October 25, 2015
Confidence among French consumers moderated from a nearly-eight-year high in October. The consumer confidence indicator elaborated by the National Statistics Institute (INSEE) inched down from September’s 97 points to 96 points in October. The result slightly undershot the 97 points the markets had expected. As a result of the monthly decrease, the consumer confidence indicator moved further away from its long-term average of 100.
In its statement, INSEE pointed out that consumer’s opinions regarding their financial prospects deteriorated over the previous month. In addition, October’s moderation in overall consumer confidence reflected the fact that fewer households are willing to make major purchases in the next 12 months. In addition, fewer consumers see that their savings capacity both now and in 12 months improve.
Author: Eric Denis , Economist