France: Consumer confidence stabilizes in November
November 27, 2012
In November, the consumer sentiment index published by the National Statistical Institute (INSEE) remained unchanged at October's 84 points, which defied market expectations that the index would drop to 83 points. At the current level, consumer confidence remains well below its long-term average of 100 points. Households were less downbeat about both their own financial situation and the national outlook over the next 12 months. Consequently, consumers' willingness to make major purchases improved a notch over the previous month. That said, a lower number of households forecasted an increase in unemployment than in October, but expectations remain high.