France: Consumer confidence stabilizes in April
April 26, 2013
In April, the consumer sentiment index published by the National Statistical Institute (INSEE) remained unchanged at the 84 points registered in March, which came in above market expectations that had the indicator inching down to 83 points. As a result, consumer confidence now sits at its lowest level since February 2012, well below its long-term average of 100 points.
The April result showed consumers' better assessment of their current financial situation, which was offset by households' deteriorating prospects for their future financial situation in the next 12 months. In addition, consumers' opinion regarding their expectations for the overall economy in the next 12 months deteriorated slightly compared to March. Nevertheless, a lower number of households expect an increase in unemployment.
FocusEconomics Consensus Forecast panellists expect private consumption to grow 0.1% this year, which is unchanged from last month's forecast, before accelerating moderately to 0.6% in 2014.