France: Consumer confidence stabilizes in October
October 28, 2014
The consumer confidence indicator published by the National Statistics Institute (INSEE) was unchanged at September’s 85 points in October. The reading came in below the 86 points the markets had expected. The index is still hovering below its long-term average of 100.
The stability of the index reflected that the economy is stuck in a stand-by situation despite the government’s attempts to revitalize it and to foster competitiveness and confidence. Households’ opinions regarding their future financial situations were unchanged over the previous month, while their assessment regarding the current financial situation deteriorated slightly. Consumers’ willingness to buy big ticket items in the next 12 months improved slightly compared to the previous month.
Author: Ricardo Aceves, Senior Economist