France Consumer Confidence October 2022

France

France: Consumer confidence picks up in October

October 26, 2022

Consumer confidence rose to 82.0 in October from September's 79.0. As a result, the index remained entrenched below the 100-threshold, signaling that consumers were pessimistic.

Looking at the details of the release, the improvement was driven by a rise in households’ sentiments regarding their financial situations in the next 12 months as well as their current saving capacities. That said, households’ saving intentions over the next 12 months fell. Furthermore, respondents considered that their standard of living has not improved in the last twelve months but a higher number now believe that it will improve in the next twelve months. Finally, households' concerns about unemployment remained identical to last month and came in well below the long-term average.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 0.2% in 2023, which is down 0.2 percentage points from last month’s forecast, and 1.6% in 2024.


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France Consumer Confidence October 2022

Note: Monthly consumer confidence survey; long-term average = 100.
Source: National Institute of Statistics and Economic Studies (INSEE).


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