France: Consumer confidence reaches six-month high
September 6, 2013
In August, the consumer sentiment index published by the National Statistical Institute (INSEE) rose to 84 points, up from the 82 points registered in July. The print marks the highest level in six months and exceeded market expectations that saw the indicator inching up to 83 points. Consumer confidence, however, remains well below its long-term average of 100 points.
Fewer households in August had a pessimistic view of the current economic situation and of the overall economic outlook compared to the previous month. Building on a more favorable economic outlook, consumers are also less pessimistic about their future financial situations. In addition, households are slightly more upbeat about employment prospects in the next 12 months.
FocusEconomics Consensus Forecast panelists expect private consumption to remain flat this year, which is unchanged from last month's forecast, before accelerating moderately to 0.5% in 2014.