France Consumer Confidence January 2017

France

France: Consumer confidence reaches over nine-year high in January

January 27, 2017

The consumer confidence indicator produced by the National Institute of Statistics and Economic Studies (INSEE) rose from the 99-point reading observed in December to 100 points in January, matching market expectations. The indicator reached its long-term average of 100 for the first time since November 2007.

In its statement, INSEE pointed out that consumers saw their future financial situation, savings capacity and unemployment prospects in a more positive light. Their views on their future financial situation improved to a pre-crisis high and fears of unemployment have dropped to lows not seen since June 2008. However, French households were slightly more pessimistic about their future living conditions in the country.

FocusEconomics Consensus Forecast panelists expect private consumption to increase 1.6% in 2017, which is unchanged from last month’s forecast. The panel expects private consumption to grow 1.3% in 2018.


Author: Jean-Philippe Pourcelot, Economist

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France Consumer Confidence January 2017

Note: Value of monthly consumer confidence index; long-term average at 100.
Source: National Institute of Statistics and Economic Studies (INSEE).


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