France: Consumer confidence rises in February
February 24, 2012
In February, the consumer sentiment index published by the National Statistical Institute (INSEE) inched up to 82 points from 81 points in January. The reading matched market expectations, which had the index improving slightly on the back of better-than-expected economic growth in the fourth quarter. Despite February's improvement, consumer confidence remains well below its long-term average of 100 points. Households were less downbeat about their own financial situation as well as employment prospects. In addition, consumers' willingness to make major purchases improved compared to the previous month. Low consumer confidence does not bode well for private consumption going forward.