France: Consumer confidence reaches 20-month high in March
March 27, 2014
In March, the consumer sentiment index published by the National Statistical Institute (INSEE) increased from the 85 points recorded in February to 88 points. The print, which marked the highest level in consumer confidence since July 2012, came in above expectations of the index remaining at 85 points. The print came on the back of a generalized improvement in all the categories that make up the index. Consumers expectations for the general economic situation and the financial conditions in the next 12 months were better than in the previous month. In particular, they were more optimistic about both their current and expected ability to save money. In addition, confidence regarding the situation in the labor market improved in March. FocusEconomics Consensus Forecast panelists expect private consumption to inch up to 0.8% this year, which is up 0.1 percentage points over last month's forecast. The panel expects private consumption to accelerate moderately to 1.1% in 2015.