France: Consumer confidence retreats from 20-month high in April
April 29, 2014
In April, the consumer sentiment index published by the National Statistical Institute (INSEE) fell from the 88 points recorded in March to 85 points (the highest level since July 2012). The print was below market expectations of the index remaining at 88 points.
The decrease came on the back of a generalized deterioration in consumer expectations. The optimistic surge regarding the general economic and financial situation in the past 12 months that was registered in March was offset by a more pessimistic view in April. Moreover, consumers proved to be increasingly worried about future employment conditions.
FocusEconomics Consensus Forecast panelists expect private consumption to increase 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 a 1.1% rise in 2015.