France: Consumer confidence remains steady
June 24, 2011
In June, the consumer sentiment index published by the National Statistical Institute (INSEE) remained unchanged at May's revised 83 points (previously reported: 84 points), broadly matching market expectations, which had the index unchanged from the original May figure. Consumer confidence remains well below its long-term average of 100 points, which does not bode well for private consumption in the coming months. Households were slightly more pessimistic about their future personal financial situation compared to the previous month, whereas perceptions of the general economic situation and employment expectations improved. Meanwhile, respondents to the survey expressed a higher willingness to carry out major purchases, which bodes well for private consumption in the second quarter.