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.